International Monetary Systems (OTCBB:ITNM) has reported its
financial results for the second quarter and six-month period ended
June 30, 2010. For the second quarter ended June 30, 2010, gross
revenue improved to $3,541,872 compared with $3,481,819 in the
year-ago quarter. The improvements in gross revenue were the results
of the company�s successful efforts to increase activity in its
corporate barter division.
Operating expenses for the quarter were $3,105,100, compared with
$3,190,938 in the year-ago second quarter. Operating income for the
second quarter 2010 increased 50.2% to $436,762 for the quarter,
compared with $290,881 in the second quarter 2009. Net income for
the quarter increased 23.8% to $222,717 or $0.02 per diluted share,
compared with $179,951 or $0.02 per diluted share reported in the
year-ago second quarter. EBITDA (Earnings before interest, taxes,
depreciation, and amortization), reached a quarterly record of
$840,857, compared with $703,715 for the year-ago second quarter.
For
the six months ended June 30, 2010, gross revenue was $6,612,293
compared with $6,833,043 in the year-ago six-month period. Operating
expenses for the six-month period were $6,434,735, compared with
$6,485,848 in the six-month period of 2009. Operating income for the
six-month period was $177,558 compared with $347,195 during the
comparable 2009 six-month period. Net loss for the six-month period
2010 was $98,045 or $0.01 per share, compared with net income of
$125,582 or $0.01 per share in the year-ago six-month period.
Donald F. Mardak, Chief Executive Officer of International Monetary
Systems, declared, �Our financial results this quarter benefited
from an improved mix of business, including an increase in national
accounts and a newly instituted program for small- to- medium-sized
start-up companies, combined with operational efficiencies that we
instituted over the past year. As we continue to demonstrate the
benefits of our barter system to larger companies, we have been
successful in attracting new business throughout the country, with
particular strength from the hospitality industry where new member
enrollment has been brisk.
�In
addition to the improved revenue attributable to national accounts,
we also continue to benefit from our core base of small business
clients. The combination of these two segments has added much depth
to the unique benefits that we offer our expanding group of members,
as businesses strive to reduce their inventory levels, and barter
for products and services that help to improve their own financial
results.
�We
continue to work on improvements to our infrastructure, and expect
to launch our new operating system in the third quarter. This,
combined with our anticipated growth in national accounts, is
expected to continue driving improvements in all aspects of our
operation,� he concluded.
For
more information on IMS Barter
click here.
Is Your Trade Exchange Missing Out On
Valuable New Business?
If
your barter company�s listing on BarterNews.com isn�t current, you
are definitely missing out on new business. The web site
BarterNews.com receives heavy traffic � with over 150,000 page-views
every month. Entrepreneurs and corporate executives check the
thousands of articles, the weekly �Tuesday
Report,� and the �Contacts
Section� of our site. They use the latter to find barter
companies with which to do business.
Is
your barter company�s listing up-to-date?
To
keep your listing current is very easy. See the links below to (A)
update any changes to your company�s listing, such as new location,
phone number, web site or other information, and (B) if your company
has not been listed.
Here�s how to get on board:
To
make changes to your listing
click here.
For
new listings
click here.
ITEX Continues Paying
Cash Dividend To Shareholders
ITEX Corporation (OTCBB:ITEX), announced that its Board of Directors
has approved a quarterly cash dividend of 2.5-cents to its
shareholders. The quarterly cash dividend will be paid to
shareholders of record as of the close of business on September 10,
2010. Thereafter, the company plans to continue to pay regular
quarterly dividends of 2.5-cents per share, or 10-cents per share
annually. Future dividends will be subject to Board approval after
its review of the company�s financial performance.
�This is our second consecutive quarterly dividend and we are very
pleased that our strong operations allow us to return cash to our
shareholders, as well as invest in our technology infrastructure to
benefit our franchisees and trading community,� said Steven White,
Chairman and CEO of ITEX, based in Bellevue (WA).
For
more information ITEX
click here.
�
International visitors look for BARTER CONTACTS in our Global Barter
Section. If YOUR exchange isn�t listed see the forms on the lower
left of the page. (Click
here.)
�
Attention trade exchange owners...thousands of visitors every month
visit our BARTER CONTACTS section on our web site where we have
names & addresses of barter companies in the USA. If YOUR exchange
isn�t listed, or the information is incorrect, you can correct the
situation by using the forms to the lower left of the USA map. (Click
here.)
Click here
www.barternewsblog.com.
Are You A Non-Borrower?
Interestingly, a study by the Small Business
Administration released in June, says that from 20% to 25% of small
businesses in the U.S. are �non-borrowers.� That is, they do not use
any credit. These firms have received virtually no attention from
academic researchers, according to the study by Rebel Cole titled,
�Bank Credit, Trade Credit or No Credit: Evidence From The Surveys
of Small Business Finances.�
Thought: Maybe leveraging your small business
into a big hole of debt isn�t the best solution, even if that�s what
many of the �experts� suggest.
