It Was A Great Year For ITEX
The fiscal year for ITEX Corporation
(OTCBB:ITEX), the largest trade exchange in North America with a
22,000 membership base, ended July 31, 2006, with the company
announcing some very impressive figures:
� Income from operations increased 84% to
� Operational cash flow was up 118% to
� Revenue increased 43% to $14,657,000.
� Total net income was $3,433,000, up 2-cents
to 18-cents a share (diluted).
� Liabilities decreased 35% to $2,695,000.
� Assets increased to $10,663,000 compared to
$9,125,000 in 2005.
� More than $300,000,000 in ITEX dollar
transactions were completed by processing approximately 300,000
Steven White, Chairman and CEO, noted, �Our
strong cash flow allowed us to repurchase 1,050,000 shares of ITEX
stock in fiscal 2006, and to prepay a significant portion of the
debt associated with the acquisition of BXI.� (Subsequent to the
July 2006 fiscal year end, ITEX retired all BXI-related debt, as
announced on October 5, 2006.)
For more information on the ITEX
Corporation�s report on Form 10-KSB, see: