ITEX Second Quarter Shows
Operating Income Increase Of 68%
Corporation (OTCBB:ITEX) has filed the company’s second
quarter results, which ended January 31, with the SEC.
Highlights of the report include:
income of $528,000 compared to $315,000 for the second
quarter of fiscal year 2006, up 68%. (Six months operating
income was $823,000 compared to $590,000, a 39% increase.)
$3,665,000 compared to $4,007,000 for the previous year’s
quarter, a 9% decrease. (Revenue for six months was
$7,455,000 compared to $7,721,000, a 3% decrease.)
general, and administrative costs decreased 60% to $224,000
compared to $555,000 for the prior year. (Selling, general,
and administrative costs for the six month period were
$674,000 compared to $983,000, a 31% decrease.)
$66,000,000 in transaction volume was attained through the
processing of more than 157,000 transactions.
and retired 400,000 shares, reducing outstanding shares to
17,966,132. The company has repurchased and retired
1,450,000 shares since January 2006 at a cost of $874,000.
corporate headquarters to an improved facility, increasing
work space from 4,000 to 7,000 square feet.
more on ITEX’s report on form 10-QSB, go to: