Eurocontrol Reports First Quarter 2017 Results

TORONTO, ONTARIO--(Marketwired - May 25, 2017) - Eurocontrol Technics Group Inc. (TSX VENTURE:EUO)(OTCQB:EUCTF) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative test and measurement technologies for industry with application systems focused on the energy security, semiconductor and precision agriculture sectors, announces that it has filed its financial statements and Management's Discussion and Analysis ("MD&A") for the quarter ended March 31, 2017.

The quarter results reflect an 85% increase in quarter revenue to $560,248 compared to $302,673 for the quarter ended March 31, 2016 from continuing operations. The Company recorded a net loss of $1,378,799 for the three month period ended March 31, 2017 compared to net income of $14,982,926 for the comparative three month period ended March 31, 2016 which included the income from the sale of the Company's former subsidiary as detailed in the following paragraph. Included below are highlights of the quarter and a summary table for reference.

Included in the financial statements are discontinued operations relating to the Company's sale of its former wholly owned subsidiary, Global Fluids International (GFI) S.A. (GFI), to SICPA S.A. ("SICPA"), a private Swiss company that is a global leader in the provision of secured identification, traceability and authentication solutions and services, on January 4, 2016 in exchange for $16 million in cash (less transaction payments) and post closing earn-out payments equal to 5% of the net revenues earned by SICPA GFI from contracts entered into (between January 4, 2016 ending January 4, 2022), with a minimum guaranteed of $1.5 million per year for the six year earn-out period (total payment of at least $9,000,000). The Company, through its wholly owned subsidiary, Xenemetrix, entered into a strategic exclusive long term supply, maintenance and support agreement, pursuant to which Xenemetrix will continue to supply to SICPA GFI, Xenemetrix products and services for the oil and gas marking and monitoring field. Further details relating to this sale transaction can be obtained from the Company's continuous disclosure documents including the MD&A for the quarter ended March 31, 2017.