IMS Reports Most Profitable Year
International Monetary Systems (OTCBB:ITNM), a
worldwide leader in business-to-business barter services, has filed
its 2009 Annual Report on form 10-K. Contrary to the results for
many other companies in this very difficult economic downturn, IMS
had the most profitable year in its history. The company effectively
streamlined operations, while continuing to build infrastructure.
Some of the highlights of 2009:
Operating income or EBITDA (earnings before interest, taxes,
depreciation and amortization) of $2,252,138 or $.23 per share.
Cash flow from operations totaled approximately $2,155,000 or
$.22 per share.
Income from operations totaled $539,305, compared to a loss of
$1,244,536 last year.
Total liabilities were reduced by $1,776,133 since the end of
Total operating expenses were reduced by $2,019,239 during the
Payroll expenses were reduced by $1,755,903 from 2008, with no
reduction in cash revenue from transaction fees.
Continued progress in upgrading its web site.
One of the most significant improvements cited was the growing
use of its online marketplace, where sales volume continued to
hit new records.
Management believes that all of these
achievements continue to portend a great future for
International Monetary Systems, even in these very trying
To view the full 10K report