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IMS Unveils Third-Quarter Report

International Monetary Systems (ITNM), a worldwide leader in business-to-business barter services, has recently filed its third quarter report on Form 10-Q ( The following highlights are from that report.

Revenue & operations:

  • Revenue increased 4.2% in the first three quarters of 2012, compared to the same period in 2011.
  • Income from operations increased to $334,730 in the first three quarters of 2012, compared to an operating income of $149,378 in the first three quarters of 2011.
  • IMS has completed the sale of two franchise-territories during the year, with a third sale to be completed in the fourth quarter. (These transactions are not expected to materially affect the results of operations for the next twelve months.)

Shareholder returns:

  • During the nine months ended September 30, 2012, the company repurchased 815,668 shares of its stock under the stock buyback plan and stock buyback guarantees.
  • The company retired 624,385 shares of treasury stock, during the nine months ended September 30, 2012.

Current quarter:

  • During the third quarter of 2012, IMS generated revenues of $3,256,392, an increase of $51,606 or 1.6%, compared to the third quarter of 2011.
  • Operating expenses for the quarter were $3,134,982, an increase of $119,498 or 3.9%, compared to the previous year�s third quarter. This increase is primarily due to higher 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 $121,410 for the third quarter, compared to $189,302 in 2011. After adjusting for interest and income taxes, the net income for the quarter was $25,256, compared to net income of $105,490 in the third 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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