Info Touch News Releases
|
|
|
|
|
|
November 1, 2005
|
|
October 10, 2005
|
|
September 22, 2005
|
|
September 15, 2005
|
|
August 29, 2005
|
|
August 2, 2005
|
|
July 12, 2005
|
|
June 15, 2005
|
|
May 10, 2005
|
|
May 2, 2005
|
|
April 8, 2005
|
|
March 28, 2005
|
|
March 17, 2005
|
|
March 17, 2005
|
|
March 8, 2005
|
|
March 2, 2005
|
|
February 24, 2005
|
|
January 27, 2005
|
|
January 24, 2005
|
|
January 17, 2005
|
|
December 17, 2004
|
|
December 16, 2004
|
|
December 2, 2004
|
|
December 1, 2004
|
|
October 27, 2004
|
|
October 12, 2004
|
|
October 5, 2004
|
|
September 27, 2004
|
|
September 17, 2004
|
|
August 24, 2004
|
|
August 13, 2004
|
|
June 28, 2004
|
|
June 16, 2004
|
|
June 15, 2004
|
|
May 31, 2004
|
|
May 4, 2004
|
|
April 5, 2004
|
|
March 31, 2004
|
|
March 25, 2004
|
|
March 19, 2004
|
|
December 30, 2003
|
|
November 12, 2003
|
|
October 20, 2003
|
|
October 14, 2003
|
|
September 4, 2003
|
|
August 7, 2003
|
|
July 22, 2003
|
|
June 27, 2003
|
|
June 26, 2003
|
|
June 17, 2003
|
|
June 11, 2003
|
|
May 27, 2003
|
|
April 2, 2003
|
|
March 31, 2003
|
|
February 20, 2003
|
|
January 28, 2003
|
|
January 21, 2003
|
|
January 7, 2003
|
|
December 18, 2002
|
|
October 16, 2002
|
|
September 23, 2002
|
|
September 16, 2002
|
|
September 10, 2002
|
|
August 26, 2002
|
|
August 22, 2002
|
|
August 19, 2002
|
|
July 3, 2002
|
|
July 2, 2002
|
|
June 18, 2002
|
|
June 11, 2002
|
|
May 23, 2002
|
|
May 8, 2002
|
|
April 17, 2002
|
|
April 9, 2002
|
|
April 4, 2002
|
|
April 2, 2002
|
|
March 20, 2002
|
|
March 7, 2002
|
|
February 19, 2002
|
|
February 6, 2002
|
|
January 31, 2002
|
|
January 30, 2002
|
|
January 24, 2002
|
|
January 2, 2002
|
|
December 14, 2001
|
|
December 7, 2001
|
|
December 7, 2001
|
|
Novemer 29, 2001
|
|
Novemer 27, 2001
|
|
Novemer 15, 2001
|
|
October 30, 2001
|
|
October 19, 2001
|
|
October 16, 2001
|
|
September 5, 2001
|
|
July 9, 2001
|
|
June 27, 2001
|
|
June 26, 2001
|
|
May 17, 2001
|
|
May 9, 2001
|
|
April 18, 2001
|
|
April 16, 2001
|
|
March 27, 2001
|
|
February 21, 2001
|
|
February 6, 2001
|
|
January 23, 2001
|
|
January 19, 2001
|
|
December 22 (a), 2000
|
|
December 22 (b), 2000
|
|
December 5, 2000
|
|
November 7, 2000
|
|
October 25, 2000
|
|
October 17, 2000
|
|
October 2, 2000
|
|
September 25, 2000
|
|
July 17, 2000
|
|
July 14, 2000
|
|
July 12, 2000
|
|
July 7, 2000
|
|
July 5, 2000
|
|
July 4, 2000
|
|
June 29, 2000
|
|
June 7, 2000
|
|
May 15, 2000
|
|
May 10, 2000
|
|
May 4 (a), 2000
|
|
May 4 (b), 2000
|
|
April 17, 2000
|
|
April 7 (a), 2000
|
|
April 7 (b), 2000
|
|
March 23, 2000
|
|
March 21, 2000
|
|
March 15, 2000
|
|
February 22, 2000
|
|
February 21, 2000
|
|
February 10, 2000
|
|
February 9 (a), 2000
|
|
February 9 (b), 2000
|
|
February 1, 2000
|
|
January 18, 2000
|
|
Info Touch Technologies 2005, Q2 financial results - Revenue and Transaction Growth
Burnaby, BC, March 17 2005
Info Touch Technologies Corp. (TSXV: IFT),
North America's leading provider of self-service bill payment and financial
service solutions today announced operating results for the second quarter
ended January 31, 2005.
Gross revenue for the quarter ended January 31, 2005 increased 21% to
$1,945,052, from revenue of $1,605,526 for Q2 2004. Revenue was derived from
the following sources: transaction services (75% of total revenue for Q2 2005
vs. 47% for Q2 2004), maintenance services (6% for 2005 vs. 11% for 2004),
professional services (14% for 2005 vs. 5% for 2004) and the sale of kiosk
systems (4% for 2005 vs. 9% for 2004). Total recurring revenue for Q2 2005
including transaction services and maintenance revenue increased 67%
accounting for $ 1,566,142 or 81% of total revenue. Cost of sales were
$1,246,100, an increase of 55% from cost of sales of $804,321 for Q2 2004.
Gross revenue for the six months ended January 31, 2005 increased 29% to
$4,061,845, from revenue of $3,146,617 for the six months ended
January 31, 2004. Revenue was derived from the following sources: transaction
services (69% of total revenue for YTD Q2 2005 vs. 49% for YTD Q2 2004),
maintenance services (6% for 2005 vs. 12% for 2004), professional services
(14% for 2005 vs. 4% for 2004) and the sale of kiosk systems (8% for 2005 vs.
8% for 2004).
Total recurring revenue for six months ended January 31, 2005 including
transaction services and maintenance revenue increased 60% accounting for
$3,062,623 or 75% of total revenue. Cost of sales were $2,507,894, an increase
of 70% from cost of sales of $1,478,818 for the same period last year. The
increase in cost of sales was attributable to additional direct and indirect
set-up and infrastructure costs required to expand the TIO network across the
United States with new kiosk deployments and application capabilities. It
typically takes newly installed kiosks approximately 8 months to reach 80% of
their revenue maturity on a per application basis. It is also important to
note that prior to the Company's transaction with Palm Desert National Bank at
the end of November 2004, cash collection costs had increased materially due
to more frequent and stringent funds reconciliation requirements from service
providers.
The move to a higher percentage of corporate-owned kiosks increased
amortization by 129% to $123,221 for Q2 2005 and in conjunction with interest
expense of $45,516 (there was no interest expense in Q2 2004) and a 58%
increase in Research and Development costs of $88,004 contributed to an
overall net loss of $345,298 compared to net income of $12,937 for Q2 2004.
For the six month period ended January 31, 2005, amortization increased by
256% to $230,774, interest increased to $53,808, research and development
increased by 55% to $158,114 and Foreign exchange loss was $95,486 all
contributing to an overall YTD loss of $491,539.
In Q2 2005, the number of transactions generated by the Company's
self-service bill payment application increased 107% to 458,370 (from 221,365)
and the number of kiosks enabled for these applications increased 54% to 329
(from 214) from Q2 2004 (excluding the Company's Canadian kiosk network). For
the six months ended January 31, 2005, the number of transactions generated by
the Company's self-service bill payment application increased 111% to 840,291
(from 397,768 during the same period the year before). Quarter to quarter
growth in number of transactions was 20%. Gross margin from transactional
income also grew by 27% to $337,000 from $265,000. Gross margin from one-time
sales of software and kiosk systems for the quarter decreased by 89% to
$37,429 from $344,127 during the previous year. Similarly, gross margin from
one-time sales of software and kiosk systems dropped by 79% from the previous
quarter. The decreases in one-time revenues were expected by management as the
Company continues to focus its efforts on growing recurring transactional
income.
During the quarter, the Company Partnered with Palm Desert National Bank
to provide vault cash and cash management services, launched the "TIO" network
for un-banked financial services, expanded the E-Wiz kiosk program with
ExxonMobil with a deployment to Nashville, Tennessee and deployed the Dayton,
Ohio market with Speedway SuperAmerica. Subsequent to the quarter the Company
announced a new location agreement with Kum & Go as well as a new bill payment
agreement with Cox Communications and a money order/money transfer services
agreement with Western Union. The Company deployed 66 kiosks during the
quarter including deployments with ExxonMobil (Nashville) and SpeedwaySuper
America (Dayton) and began generating income on 18 kiosks (as the balance of
the 48 units were deployed at the end of the quarter and started generating
income after January 31, 2005). All kiosks deployed in the Company's core
networks during the period are corporate owned as the Company continues to
maximize its ownership of all such transactional revenue streams.
"The company continues to drive the transformation of its revenue make up
from "one-time" to "recurring" revenues. In Q2, recurring revenues including
transactional, maintenance and the recurring portion of the professional
services increased to 89% of total revenues," stated Hamed Shahbazi, Chairman
and Chief Executive Officer of Info Touch. "The Company strongly believes that
it must take advantage of its first mover advantage into the self-service
financial services marketplace and continue to build market share to serve the
growing under banked US population with bill payment and financial services
applications. As such, the Company aims to continue to aggressively grow its
kiosk deployments with its convenience retail and application service
partners."
Conference Call:
You are invited to attend a conference call on Thursday March 17th at
4:00pm Eastern Standard Time to review the Q2 2005 fiscal quarter financial
results. The dial-in numbers are 416-640-4127 in Toronto, or, Toll Free
1-800-814-4860. Callers should request the Info Touch Technologies Conference.
About Info Touch
Info Touch Technologies, a strategic investment of Hewlett Packard, is
building the "TIO Network" the largest and most convenient national
(multi- retailer) network of financial services kiosks for the non-banked
consumer marketplace. The company leverages its core competencies in
self-service bill payment processing, financial services aggregation and
automation to create financial viability for its network and its location
partners. Visit www.infotouch.net
About the TIO Network
The "TIO Network" is the largest most convenient national
(multi-retailer) network of self-service financial service kiosks in North
America. Services offered under the TIO brand umbrella are tailored
specifically towards the non-banked consumer marketplace. The TIO brand
provides a beacon that symbolizes fair, convenient and secure access to
financial services in an otherwise difficult to negotiate environment for
non-banked consumers.
For further information:
Derek Lai, VP Finance, Info Touch Technologies
Info Touch Technologies
Tel: (604) 298-4636,
Ext. 269
Toll Free: (888) 679-3322
Email: pr@infotouch.net;
John Lewis,
Business Development
Info Touch Technologies
Tel: (416) 364-2266, Toll
Free: 1-877-600-6001
Email: jrlewis@infotouch.net
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
back to top
|
|
|
|
|
|
|
|
| |
