Business
In-Touch Survey Systems Ltd. announces highest quarterly revenue, profits and cashflow in the company's history
OTTAWA, Nov. 6 /CNW Telbec/ - In-Touch Survey Systems Ltd. ("In-Touch" TSX-Venture: INX) is pleas...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\nOTTAWA, Nov. 6 /CNW Telbec/ - In-Touch Survey Systems Ltd. ("In-Touch"\nTSX-Venture: INX) is pleased to announce that revenue increased 48% to\n$1,413,081 in Q3 2007 compared to $925,479 in Q3 2006. Net income increased\nsignificantly to $164,749 compared to a net income of $1,037 in Q3 2006. Cash\nflow from operations (adjusted EBITDA - see detailed financials) increased\n227% to $295,000 in Q3 2007 compared to $94,000 in Q3 2006. The Q3 FY 2007\ngross margin was 59% (58% YTD 2007) compared to 64% for Q3 (61% YTD 2006).\nManagement is encouraged with the fiscal performance, given the lower margins,\nand anticipates margins moving back to historical levels in the future.\n\n\nQ4 revenues are typically lower than previous quarters as In-Touch\ncustomers' focus on the annual holiday sales cycle. Management expects\nQ4 Revenue in the range of $1.25 million to $1.4 million CDN and expectations\nfor FY 2007 revenue in the range of $4.8 million and $5.0 million. Revenues\nare also expected to grow 40% in fiscal 2008.\n\n\n"New US-based customers were a major reason for the strong sales growth.\nThese customers provide a significant opportunity for In-Touch to grow sales\nover the next few years. Becoming a major supplier to these Fortune\n50 customers also validates our investment in our software and hardware\ntechnology," said Michael Gaffney, Chief Executive Officer.\n\n\n"Over the past three years, we have significantly changed the strategy of\nthe company from being just a market research company to a software and\nhardware solutions company that provides products directly to the marketing\nand operations divisions of Fortune 1000 business to consumer companies. Our\ncustomers want more than just market research. We provide our customers with\nhighly secure real-time data collection along with one-to-one marketing\ncapabilities, a robust real-time reporting system and digital signage\ncapabilities. We continue to enhance our software technology and services by\nadding user friendly, leading edge, business intelligence tools for managers\nand executives - helping our customers sell to their customers," said Gaffney.\n\n\nConsolidated statements\n of comprehensive\n earnings\nThree months ended Three months to Nine Months to\n September 30, 2007 September 30 September 30\n and 2006 (unaudited) 2...