International Monetary Systems (OTCBB:ITNM.OB) has filed its 2011
annual report on Form 10-K. According to management, the year was
one of the best in the company's history, relative to operating
income, cash flow and profitability.
Some of the IMS highlights during 2011 are as follows:
During the year, 1,789,437 shares of the company's outstanding
common stock were repurchased into treasury. This represents
approximately 17% of the outstanding shares of the company as of
January 1, 2011. The company's stock generally traded in a higher
range in 2011 than in 2010, hitting a new 52-week high of $3.34 per
In 2011, the company produced income from operations of $515,675,
compared to an operating loss of $333,620.
IMS had EBITDA (earnings before interest, taxes, depreciation and
amortization) of $2,171,976 or approximately $.23 per share,
compared to EBITDA of $1,297,547 in 2010.
Cash flow from operations totaled approximately $1,519,000 or $.16
Several regional offices were relocated, resulting in savings in
occupancy expenses of approximately $250,000.
Trade exchanges in two additional markets, St. Louis (MO) and
Peterborough (ONT), Canada, were acquired in 2011. This added
approximately 800 new members to the IMS network.
Throughout the year, the company continued to significantly improve
its new TNT barter software, which allows for enhanced sales,
operating and reporting efficiencies.
For more information on the company