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ITEX Announces Earnings

The largest trade exchange in the U.S. has announced results for its fiscal 2011 third quarter, ended April 30, 2011.

Third Quarter 2011 Highlights

         Revenue of $3.960 million, compared to $4.158 million in the same period last year;

         Income from operations of $388,000, compared to $421,000 in the same period last year;

      Net income of $239,000, compared to $269,000 in the same period last year;

      Cash at end of period was $4.765 million, compared to $5.169 million on July 31, 2010;

      Repurchased 92,125 shares of common stock;

      Paid a $0.04 per share quarterly cash dividend.

Additionally, ITEX acquired a membership list of approximately 1,500 businesses from an unnamed commercial trade exchange for $400,000. The new ITEX members are concentrated primarily in the states of Washington, Oregon, Utah and Georgia.

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