03:49 PM EST - Cantronic Systems Inc. : said it lost $843,000 on a consolidated basis, which includes a loss of approximately $350,000 directly attributable to recently established China subsidiary Cantronic Security Systems Co. Ltd. Revenues for the first quarter were $1.13 million, compared to $400,000 in the comparable quarter last year. The company noted that the financial results for the quarter ended April 30, 2008 has been restated to revenues of $1 million and a net loss of $300,000 due to an adjustment recommendation made by Ernst & Young, the company's auditors. Cantronic manufactures, distributes, and provides training and services in the fields of infrared vision and video security surveillance technologies. Through its U.S. subsidiary QWIP Technologies Inc. the company holds a worldwide, exclusive license from the California Institute of Technology to produce and sell infrared detectors and sensors based on Caltech's Quantum Well Infrared Photodetector technology. Cantronic Systems Inc.
shares V.CTS are trading down $0.005 at $0.16.
