03/16/2010
ITEX Announces Second Quarter Filing � Fiscal 2010
ITEX (OTCBB:ITEX) has filed form 10-Q with the Securities and
Exchange Commission, and have announced the results for its fiscal
2010 second quarter ended January 31, 2010.
Second quarter 2010 highlights:
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Income from operations of $526,000, compared to $235,000 in the same
period last year;
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Revenue of $4,537,000, compared to $4,365,000 in the same period
last year;
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Net income of $172,000, compared to $134,000 in the same period last
year;
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Cash at end of period of $3,627,000, compared to $2,557,000 on July
31, 2009;
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Stockholder equity of $14,460,000, compared to $13,981,000 on July
31, 2009;
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Broker incentive expense of $79,000 for a computer upgrade
initiative planned in conjunction with the upcoming launch of Office
2010.
(The ITEX report on Form 10-Q can be found at
www.sec.gov.)
ITEX Authorizes Stock Repurchases
On March 9, the ITEX Board of Directors authorized the repurchase of
up to $2 million of its outstanding common stock. The timing and
actual number of share repurchases will depend on a variety of
factors.
The repurchase program does not obligate ITEX to acquire any
particular amount of common stock, and may be modified or
discontinued at any time. ITEX currently has 18,051,248 shares of
common stock outstanding
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