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IN-TOUCH SURVEY SYSTEMS LTD. ANNOUNCES Q3 2010 FINANCIAL RESULTS WITH SIGNIFICANT GROWTH, IN REVENUE, NET INCOME AND EBITDA
IN-TOUCH SURVEY SYSTEMS LTD. ANNOUNCES Q3 2010 FINANCIAL RESULTS WITH SIGNIFICANT GROWTH, IN REVE...
About this update from Intouch Insight Ltd.
[{"type":"text","content":"\n\n\n\n Nov. 16, 2010 (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\nOTTAWA, Nov. 16 /CNW/ - In-Touch Survey Systems Ltd. ("In-Touch"\n TSX-Venture: INX) announces that revenue increased to $1,692,155 in Q3\n 2010 compared to $1,324,784 in Q3 2009 - a 28% increase. Net earnings\n for Q3 2010 increased 886% to $371,010 compared to $37,633 in Q3 2009.\n The Company-defined adjusted EBITDA increased 204% to $480,000 in Q3\n 2010, compared to an EBITDA of $158,000 in Q3 2009.\n\n\nElectronic data collection (EDC) revenue which accounted for 59% of\n quarterly revenue increased 22% from $820,453 in Q3 2009 to $1,004,213\n in Q3 2010. Manual data collection (MDC) revenue increased 32% in the\n third quarter of 2010 from $427,221 in Q3 2009 to $562,857. Gross\n margin also increased slightly quarter over quarter from 64% to 66%.\n While revenues were increasing, total operating expenses decreased by\n approximately 9% compared to Q3 2009. G&A expenses in particular\n decreased 12% as a result of the Company's continued investment in\n software technology that improved scalability and reduced overheads.\n The result was to provide the Company with the highest quarterly net\n income and EBITDA in history.\n\n\nYear to date revenues for the first nine months of 2010 were $4,314,499,\n an increase of 5% compared to revenues of $4,097,575 for the same\n period last year. Year to date segmented revenue proportions are\n similar to those obtained in the third quarter. Year to date net...