Last year 872,591 shares
of International Monetary Systems� outstanding common stock were
repurchased into treasury. This represents approximately 11% of the
outstanding company shares as of January 1, 2012. The average price
per share of all repurchases was $2.03.
During the year:
Income produced from
operations was $378,345, compared to operating income of
$515,675 in 2011.
IMS had EBITDA
(earnings before interest, taxes, depreciation and amortization)
of $1,894,123, compared to $2,170,984 the year prior.
Cash flow from
operations totaled approximately $1,410,000 compared to
$1,467,000 the prior year.
Three IMS franchises
were sold in 2012. While these territories are not yet making a
material contribution to operating income, management is optimistic
as to the future of the franchising program as a means of expanding
the IMS footprint and enhancing profitability.
The company realized the
operating efficiencies of integrating two additional markets, St.
Louis (MO) and Peterborough (ONT), for the full year of 2012, adding
approximately $270,000 to revenue.
Throughout the year, IMS
continued to significantly improve its new TNT barter software,
which allows for enhanced sales, operating, and reporting
For more information on IMS,