Revenue increased 5.5% in the first two quarters of 2012, compared
to the same period in 2011.
Income from operations increased to $213,273 in the first half of
2012 compared to an operating loss of $(39,925) in the first half of
2011.
The
company has completed the sale of two franchise territories during
the year. They are not expected to have a material affect on the
results of operations for the next twelve months.
During the quarter ended June 30, 2012, IMS generated revenues of
$3,390,078, an increase of $56,939 or 1.7 %, compared to the second
quarter of 2011.
Operating expenses in the quarter were $3,188,978, an increase of
$38,251 or 1.2%, compared to the second quarter of 2011. This
expansion is primarily due to increased employee costs, including
staff costs in offices acquired in 2011, higher variable
compensation tied to higher revenue, and expansion of the company�s
tele-selling staff.
IMS
generated operating income of $201,100 for the second quarter,
compared to $182,412 in 2011. After adjusting for interest and
income taxes, the net income for the quarter was $98,647 compared to
net income of $77,196 in the second quarter of 2011. Interest
expense has increased as the company services the increased debt
load taken on strategically to fund the stock buyback program
expanded in 2011.
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