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ITEX Continues Posting Strong Figures

The ITEX Corporation (OTCBB:ITEX) has posted results of the second quarter of fiscal years 2006, ending January 31, 2006.

Highlights include:

  • Revenue was $4,029,000 compared to $2,656,000 for the second quarter in fiscal year 2005, a 52% increase. (Revenue for six months was $7,750,000 compared to $5,163,000, a 50% increase.)
     
  • Operating income was $315,000 compared to $234,000 for the same period in 2005. (Operating income for six months was $663,000 compared to $460,000, a 44% increase.)
     
  • Operational cash flow increased 126% to $1,350,000, up from $598,000 in the six-month period ending January 31.
     
  • Outstanding notes payable (acquisition debt) were reduced to $872,000, from $2,346,000 at July 31, 2005.
     
  • Bank line-of-credit increased to $1,000,000, from $500,000.
     
  • Completed transaction volume of more than $65,000,000 by processing over 90,000 transactions.

ITEX Corporation´┐Żs report on Form 10-QSB can be found at www.sec.gov.  For information on ITEX visit www.itex.com.