Business
In-Touch Survey Systems Ltd. announces FY 2011 results: a 52% increase in revenues and a 47% increase in net earnings
OTTAWA, April 30, 2012 /CNW/ - In-Touch Survey Systems Ltd. ("In-Touch" TSX-Venture: INX) a...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\n\n\nOTTAWA, April 30, 2012 /CNW/ - In-Touch Survey Systems Ltd. (\"In-Touch\"\n TSX-Venture: INX) announces that revenues increased 52% to $8,930,735\n in FY 2011 compared to $5,893,125 in FY 2010. Net earnings for 2011\n increased 47% to $1,114,904 compared to $758,101 in 2010, and net\n earnings per share for 2011 was $0.08 compared to $0.06 for 2010. \n Earnings from operating activities were $1,068,000 in 2011 compared to\n $995,412 in 2010. The Company-defined adjusted EBITDA, as described in\n the Company's Management Discussion and Analysis was $1,387,000 in FY\n 2011, compared to $1,221,000 in FY 2010.\n\n\n\"The Company had a very successful year and is poised for significant\n compounded growth in future years. 2012 sales bookings have already\n reached $10,000,000. The addition of Service Intelligence in August\n 2011 gave us a complete working entity in the USA for Audit, Mystery\n Shopping and Customer Insight services. Overall, the company is\n striving for 50% growth in 2012 with 25% growth from organic sales and\n 25% growth from acquisitions\", said Michael Gaffney, Chief Executive Officer.\n\n\nGross margins decreased to 51% in 2011 compared to 60% in 2010 due to\n the assumed overheads associated with the Service Intelligence business\n combination. The company expects gross margins to increase and return\n to historical levels in Q3 2012 as Service Intelligence customers\n switch onto In-Touch systems.\n\n\n\"The IMS division, which completed its first full year of operations,\n exceeded its targets with sales of $1.3M. We expect this division,\n which is focused on enterprise edge applications for governments, to grow by 150% in 2012 and reach $3M in\n revenues. Our mobile technology and capabilities from the Electronic\n Data Capture division are providing an invaluable aid in winning this\n government business\", said Gaffney.\n\n\nOver the past several years the company's managed mobile software\n technology for marketing and operations has evolved into an enterprise edge solution.  The edge of the enterprise, whether the enterprise is a\n government department, an automobile company or a retail chain, is\n where that enterprise engages its customers and suppliers via websites\n and mobile devices. In-Touch provides service, software tools,\n logistics and SaaS applications that enable i...