Business
In-Touch Survey Systems Ltd. announces FY 2012 results: a 20% increase in revenues
OTTAWA, April 4, 2013 /CNW/ - In-Touch Survey Systems Ltd. ("In-Touch") (TSXV: INX) annou...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\n\n\nOTTAWA, April 4, 2013 /CNW/ - In-Touch Survey Systems Ltd. (\"In-Touch\") (TSXV: INX) announces that\n revenues increased 20% to $10,719,792 in FY 2012 compared to $8,930,735\n in FY 2011. Net earnings for 2012 decreased 7% to $1,032,218 compared\n to $1,114,904 in 2011, and net earnings per share for 2012 were $0.07\n compared to $0.08 for 2011.  Earnings from operating activities were\n $761,362 in 2012 compared to $1,059,741 in 2011. The Company-defined\n adjusted EBITDA, as described in the Company's Management Discussion\n and Analysis was $1,204,000 in FY 2012, compared to $1,387,000 in FY\n 2011.\n\n\n\"The Company had a successful year in terms of sales growth and new\n product development. Net income and EBITDA were down because of\n increased investment in product development and marketing and the loss\n of two large customers in Q4 due to cost cutting measures in these\n firms. One or two acquisitions were a key part of the 2012 growth\n strategy and while no deals were completed to impact 2012 we have just\n announced on April 2, 2013 the acquisition of a division of Navex\n Global \", said Michael Gaffney, Chief Executive Officer.\n\n\nGross margins decreased to 49% in 2012 compared to 51% in 2011 due to\n the assumed overheads associated with the Service Intelligence business\n combination, as the final integration of SI took longer than expected.\n The company expects gross margins to increase and return to historical\n levels in 2013 as Service Intelligence customers have been fully\n transferred onto In-Touch systems.\n\n\nAt the Event Technology Summit in New York in November 2012 we launched\n EventMatrix (eventmatrix.com) - an enterprise platform as a service targeted at Chief Marketing\n Officers, Chief Information Officers and Agencies of Record to manage\n large complex mobile deployments for marketing and operations\n departments. The Company has made two major sales of EventMatrix and\n estimates total annual combined revenues from these sales may exceed a\n million dollars.\n\n\n\n\n\n\n\n\nConsolidated Statements of Comprehensive Earnings\n\n\n \n\n\n2012\n\n\n \n\n\n \n\n\n2011\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nRevenue\n\n\n \n\n\n \n\n\n \n\n\n $ 10,719,792\n\n\n \n\...