Eurocontrol Reports First Quarter 2018 Results
Test and Measurement Innovators
Focused on Key Growth Markets
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365 Bay Street, Suite 400
Toronto, Ontario, Canada M5H 2V1
T 416 361 2808 | F 416 361 2519
eurocontrol.ca
Eurocontrol Reports First Quarter 2018 Results
Toronto, CANADA, May 30 , 2018 - Eurocontrol Technics Group Inc. (TSX Venture: EUO; OTCQB: EUCTF)
(“Eurocontrol” or the “Company”), a Canadian public company with three subsidiaries specializing in the sale,
development and commercialization of innovative test and measurement technologies for the scientific testing,
precision agriculture and semiconductor sectors, announces that it has filed its interim financial statements and
Management’s Discussion and Analysis (“MD&A”) for the first quarter ended March 31, 2018.
The first quarter results reflect a 38% decrease in first quarter revenue to $348,317 compared to $560,248 for the
interim period ended March 31, 2017 . The Company recognized EBITDA of ( $1,839,527) ($ 1,565,799 in 2017 )
resulting in a net loss of $1,751,345 for the quarter compared to a net loss of $1,378,799 for the three month period
ended March 31, 2017.
As part of the previously announced strategic review process that is being overseen by a special committee of
independent directors of the Company, steps have been implemented to reduce staffing levels at the Company’s
subsidiary companies, Xenemetrix, Croptimal and XwinSys, located in Israel. The Company’s board of directors is
continuing to consider and evaluate strategic alternatives and is evaluating potential investment opportunities that will
enhance the Company’s growth profile and future profitability. There is no assurance that the review by the Company’s
board of directors will result in a transaction or other strategic alternative and the board has not set a timetable for the
completion of the review process.
About Eurocontrol Technics Group Inc.
Eurocontrol is a TSX Venture and OTCQB traded company that has three wholly owned subsidiaries, Xenemetrix Ltd.,
XwinSys Technology Development Ltd. and Croptimal Ltd. Xenemetrix designs, manufacturers and markets ED-XRF
systems, a technology that is the most accura te and economic method for determining the chemical composition of
many types of materials, including the analysis of petroleum oils and fuel. XwinSys has developed a patented, fully
automated metrology system for the semiconductor industry that combines 2D and 3D image processing technology
with Xenemetrix’s ED-XRF technology. Croptimal, is introducing a new mobile ED-XRF spectroscopic material analysis
laboratory for the precision agriculture industry.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca or contact Paul Wood
at (416) 361-2808 or [email protected].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities
commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
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This news release contains “forward -looking statements”. All statements, other than statements of historical fact
included in this new s release, regarding E urocontrol’s strategy, future operations, possible strategic transactions,
financial position, prospects, plans and objectives of management are forward-looking statements. When used in this
press release, the words “plan,” “will,” “would,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project”
and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements
contain such identifying words. These forward-looking statements are based on Eurocontrol’s current expectations and
assumptions about future events and are based on currently available information as to the outcome and timing of
future events. As such, actual results, performance, or achievements could differ materi ally from those expressed in,
or implied by, these forward -looking statements and accordingly, no assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits or negative
impact they will have on Eurocontrol and its shareholders.