ITEX Corporation (OTCBB:ITEX) has filed its Form 10-Q with the
Securities and Exchange Commission, announcing results for its
fiscal 2012 second-quarter ended January 31, 2012.
�Our two core business revenue streams, transaction fees and
association fees, both increased 2% in the quarter compared to the
same three month period last year, and increased 3% and 2%,
respectively, for the six month period ended January 31, 2012
compared to the same period last year.
�Operational income was 20% higher than last year�s second quarter,
and net income increased 65% for the six-month period ended January
31, 2012 compared to the same period last year, primarily due to the
divestiture of two corporate owned offices and an increase in
interest income. All in all a very good quarter and solid results
for the first two quarters of fiscal 2012,� stated Steven White,
Chairman and CEO.
Second
Quarter 2012 Highlights
�
Revenue of $4.229 million compared to $4.417 million in the same
period last year.
�
Income from operations of $283,000 compared to $235,000 in the same
period last year.
�
Cash at end of period increased to $5.807 million from $5.386
million on July 31, 2011.
�
Stockholder equity increased to $15.150 million from $14.758 million
on July 31, 2011.
�
Paid a $0.04 per share quarterly cash dividend in December.
On February 24, 2012, the Board of Directors of ITEX Corporation
declared a quarterly cash dividend of $.04 per share payable on
March 20, 2012, to stockholders of record as of the close of
business on March 9, 2012.
For
more information on ITEX Corporation
click here.
