RFID Future: Syscan Invests ...

Syscan announces full-year financial results which are disappointing. Yet, the company is optimistic about its future as it invests in RFID agricultural applications. ...

... "Research and Development expenses grew to $765,415 from $308,797, an increase of 148% as RFID based application development was accelerated in preparation for commercialization. At the end of the year, working capital stood at $906,578 and there was no bank debt. Mr. Axel Striefler, President and CEO of Syscan said: Fiscal 2006 was a difficult year for the Company as demand for our rugged mobile printers declined significantly due to competition from smaller, less expensive thermal printers. Nevertheless we have made tremendous strides with our RFID applications which represent the future of the Company. We are looking forward to strong growth in 2007 as we commercialize our solutions in the food, pharmaceutical and military sectors. We are particularly excited about the forthcoming implementation of our RFID based solutions in conjunction with Quebec's mandated agricultural traceability programs across the province. " ...

Via MarketWire: Syscan Releases 2006 Results