Business
BSM Technologies reports third consecutive quarter of positive EBITDA, 159% increase over previous year
Feb. 24, 2011 (Canada NewsWire Group) -- WOODBRIDGE, ON, Feb. 24 /CNW/ - BSM Technologies Inc...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\n\n\n Feb. 24, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nWOODBRIDGE, ON, Feb. 24 /CNW/ - BSM Technologies Inc. ("BSM" or the\n "Company")  (TSX-V: GPS), a leading provider of remote monitoring,\n fleet management, fleet diagnostics and automated vehicle security\n systems today announced financial and operating results for the three\n months ended December 31, 2010.\n\n\nQ1 fiscal 2011 Highlights\n\n\n\n\n\n\nThird consecutive quarter of positive EBITDA results\n\n\n\n\n$55,623 of EBITDA in Q1 2011, an increase of $150,404 or 159% from a\n loss of $94,781 in the first quarter of the previous year.\n\n\n\n\n$2,204,365 of recurring services revenue in Q1 2011, an increase of\n $200,243 or 10% from $2,004,122 in Q1 2010.  Recurring services revenue\n was 67% of total revenues, up from 57% for prior year.\n\n\n\n\nGross profit margin of 62%, increasing from 59% of revenue in Q1 2010.\n\n\n\n\n9% decrease in operating expenses to $1,976,270 in Q1 2011 from\n $2,167,024 in the first quarter of the previous year.\n\n\n\n"We are very pleased to report our third positive quarter of EBITDA,"\n said Aly Rahemtulla, President and CEO. "This reflects that we are on\n track with our strategy of focusing on sales of our core product lines,\n increasing our subscriber base for recurring revenue services and\n controlling costs. Our sales pipeline is growing and we expect\n continued positive results in 2011."\n\n\nFinancial Highlights\n\...