IMS Barter�s Quarterly Report Reveals Substantial Progress
International Monetary Systems (OTCBB:ITNM), a worldwide leader in
business-to-business barter services, has filed its 3rd quarter
report on form 10-Q.
During the nine months ending September 30, 2009, International
Monetary Systems (IMS) was realizing the benefits of the substantial
reductions in overhead the company worked so hard to achieve over
the past year.
Some highlights are:
costs were reduced by more than $1,300,000 compared to the first
three quarters of 2008.
liabilities were reduced by more than $1.5 million compared to
December 31, 2008.
Net income from operations improved by more than $1,100,000 over the
same nine months of last year.
cash available increased by 94.9% since December 31, 2008.
shares were repurchased and added to treasury stock since December
During the quarter ending September 30, 2009, International Monetary
Systems generated gross revenues of $3,526,792, substantially flat
compared to revenue of $3,537,840 in the third quarter of 2008.
Operating expenses in the third quarter were $3,169,126, a 9.8%
decrease compared to $3,511,054 in the third quarter of 2008. The
decrease was primarily due to efficiencies realized in personnel and
The combination of revenue change and expense controls resulted in
net operating income of $357,666 for the quarter, compared to
$26,786 in the third quarter of 2008.
After adjusting for interest and income tax expense, the net profit
for the current period was $214,180 compared to a net loss of
$121,516 in the third quarter of 2008.
Operating profit or EBITDA (earnings before interest, taxes,
depreciation and amortization) for the quarter totaled $748,792, a
67.8% increase over the $446,417 reported in the third quarter of
For more information on IMS