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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 2008.

  • Total operating expenses were reduced by $2,019,239 during the same period.

  • 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 economic times.

To view the full 10K report

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