ITEX Has Explosive Quarter...Both Its Income And Revenue
Corporation (OTCBB:ITEX) has reported its results for the third
quarter of fiscal year 2006, ending April 30, 2006. The firm, a
leading marketplace for cashless business transactions, processes
more than $250 million a year through 22,000 member businesses,
managed by 95 franchisees and licensees.
White was enthusiastic, stating, �We continue strong growth in
revenue and income from operations as a result of the rapid and
successful integration of (the BXI trade exchange). We will continue
to explore opportunities to grow revenue at a faster rate.�
Third Quarter 2006 Highlights
Corporation�s report on Form 10-QSB can be found at
For more information on ITEX see:
Third quarter income
from operations was $437,000, compared to $150,000 for the
previous third quarter in 2005...an increase of 191%
income for the nine-month period ending April 30, 2006, was
$1,100,000, compared to the previous $609,000 in 2005...an
increase of 81%.
quarter revenue was $3,419,000, compared to $2,345,000 in the
same period the previous year...an increase of 46%.
for the nine-month period ending April 30, 2006, was
$11,169,000, compared to the previous $7,508,000 in 2005...an
increase of 49%.
Operational cash flow increased 96% from $914,000 to $1,790,000
in the nine-month period ending April 30, 2005 and 2006,
73,000 transactions, totaling more than $54,000,000 in ITEX-dollars.
stock - 300,000 shares were repurchased for $165,000 and
outstanding shares totaled 18,406,132. There are no outstanding
options or warrants.