Business
Fleet Management Technology Provider BSM Reports Its First Quarterly Profit, Resulting from a 75% Rise in Quarterly Revenue and an Increase in Gross Profit to 63% of Revenues
Fleet Management Technology Provider BSM Reports Its First Quarterly Profit, Resulting from a 75%...
About this update from Great Plains Metals Corp.
[{"type":"text","content":"\nFleet Management Technology Provider BSM Reports Its First Quarterly Profit, Resulting from a 75% Rise in Quarterly Revenue and an Increase in Gross Profit to 63% of Revenues\n\n\n Aug. 30, 2010 (Filing Services Canada) -- BSM Technologies Inc. (GPS - TSX Venture), is pleased to announce its financial results for the third quarter ended June 30, 2010.Highlights for the three months ended June 30, 2010:* Net income of $22,446 compared to loss of $394,540 for the same period  in 2009* Revenue:    o 75% increase in revenue to $3.4 million over the same period in      2009* Gross Profit:    o 109% increase in gross profit to $2.15 million over the same period      in 2009    o Gross profit increases to 63% of revenue from 53% for the same      period in 2009* Acquisitions:    o LoadTrak:  This includes all of the fleet tracking assets of     SaskTel. This acquisition will allow BSM to expand its distribution     network in western Canada, increase its customer base and associated     recurring revenue, and will augment its rich portfolio of     technology.    o I-Trax:  This includes the entire fixed asset monitoring business    of Emerson Process Management (\"Emerson\").   BSM will add in excess    of 5,000 new subscribers in 8 countries globally.  I-Trax provides    web-based fixed asset management services - primarily focused on gas    storage tanks.  \"Achieving its first quarterly profit is an important milestone for BSM.  The Company is well positioned to benefit from its established sales channels and growth opportunities created from its recent acquisitions,\" said Aly Rahemtulla, President and Chief Executive Officer of BSM.  Selected Financial Information for the three and nine months ended June 30, 2010:-------------------------------------------------------------------------                    
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