Mr. Steve Smith reports

ZTEST SUBSIDIARY PERMATECH ELECTRONICS CORPORATION ANNOUNCES RECORD YEAR END FINANCIAL RESULTS

Ztest Electronics Inc.'s wholly owned subsidiary, Permatech Electronics Corp., has achieved record revenue and net income for the year ended June 30, 2023.

Revenue for the 2023 fiscal year was $5.7-million, an increase of 29 per cent from the prior year.

Net income for the fiscal year was $478,080, as compared with a loss of $30,319 in 2022. EBITDA (earnings before interest, taxes, depreciation and amortization) for the fiscal year was $813,679, a notable increase from EBITDA of $257,193 in the prior year.

"We are working diligently to scale Permatech operations while maintaining discipline in the management of cash flow and other areas of business risk. As we look forward, we are well positioned for continued growth by enabling our customer base to achieve greater sustainability across their businesses," said Permatech president Suren Jeyanayagam.

About Ztest Electronics Inc.

Ztest Electronics, through its wholly owned subsidiary, Permatech, offers electronic manufacturing services (EMS) to a wide range of customers. Permatech's offering includes materials management, printed circuit board (PCB) assembly and testing services. Permatech operates from a 20,000-square-foot, ISO 9001:2015-certified facility in North York, Ont., Canada. Permatech is a contract manufacturer of complex circuit boards, serving customers in the medical, power, computer, telecommunications, wireless, industrial, trucking, wearables and consumer electronics markets. It specializes in servicing customers that are looking for high yield and require high-quality and rapid turnaround on low-volume and mid-volume production of high-complexity products.

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