Info Touch News Releases
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November 1, 2005
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October 10, 2005
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September 22, 2005
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September 15, 2005
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August 29, 2005
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August 2, 2005
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July 12, 2005
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June 15, 2005
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May 10, 2005
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May 2, 2005
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April 8, 2005
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March 28, 2005
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March 17, 2005
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March 17, 2005
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March 8, 2005
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March 2, 2005
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February 24, 2005
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January 27, 2005
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January 24, 2005
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January 17, 2005
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December 17, 2004
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December 16, 2004
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December 2, 2004
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December 1, 2004
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October 27, 2004
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October 12, 2004
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October 5, 2004
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September 27, 2004
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September 17, 2004
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August 24, 2004
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August 13, 2004
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June 28, 2004
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June 16, 2004
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June 15, 2004
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May 31, 2004
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May 4, 2004
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April 5, 2004
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March 31, 2004
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March 25, 2004
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March 19, 2004
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December 30, 2003
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November 12, 2003
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October 20, 2003
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October 14, 2003
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September 4, 2003
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August 7, 2003
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July 22, 2003
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June 27, 2003
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June 26, 2003
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June 17, 2003
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June 11, 2003
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May 27, 2003
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April 2, 2003
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March 31, 2003
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February 20, 2003
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January 28, 2003
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January 21, 2003
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January 7, 2003
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December 18, 2002
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October 16, 2002
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September 23, 2002
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September 16, 2002
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September 10, 2002
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August 26, 2002
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August 22, 2002
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August 19, 2002
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July 3, 2002
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July 2, 2002
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June 18, 2002
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June 11, 2002
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May 23, 2002
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May 8, 2002
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April 17, 2002
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April 9, 2002
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April 4, 2002
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April 2, 2002
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March 20, 2002
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March 7, 2002
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February 19, 2002
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February 6, 2002
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January 31, 2002
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January 30, 2002
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January 24, 2002
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January 2, 2002
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December 14, 2001
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December 7, 2001
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December 7, 2001
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Novemer 29, 2001
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Novemer 27, 2001
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Novemer 15, 2001
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October 30, 2001
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October 19, 2001
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October 16, 2001
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September 5, 2001
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July 9, 2001
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June 27, 2001
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June 26, 2001
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May 17, 2001
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May 9, 2001
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April 18, 2001
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April 16, 2001
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March 27, 2001
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February 21, 2001
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February 6, 2001
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January 23, 2001
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January 19, 2001
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December 22 (a), 2000
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December 22 (b), 2000
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December 5, 2000
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November 7, 2000
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October 25, 2000
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October 17, 2000
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October 2, 2000
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September 25, 2000
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July 17, 2000
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July 14, 2000
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July 12, 2000
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July 7, 2000
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July 5, 2000
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July 4, 2000
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June 29, 2000
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June 7, 2000
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May 15, 2000
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May 10, 2000
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May 4 (a), 2000
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May 4 (b), 2000
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April 17, 2000
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April 7 (a), 2000
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April 7 (b), 2000
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March 23, 2000
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March 21, 2000
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March 15, 2000
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February 22, 2000
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February 21, 2000
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February 10, 2000
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February 9 (a), 2000
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February 9 (b), 2000
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February 1, 2000
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January 18, 2000
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Info Touch Technologies 2005, Q3 financial results growth in revenue, transactions and deployments
Burnaby, BC, June 15, 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 third quarter
ended April 30, 2005. The Company continued to focus its efforts on the
marketing and expansion of the "TIO" network which provides financial services
for the for under-banked community, expanded the E-Wiz kiosk program with
ExxonMobil with a deployment to Charlotte, North Carolina, deployed the Tulsa
and Oklahoma markets with Kum & Go LLC and deployed the Buffalo, NY market
with NOCO Express. In total 86 kiosks were deployed bringing the total number
of kiosks in the network to 495.
Highlights (Q3 2005 vs. Q3 2004)
- Rate of Kiosk deployments increased by 125%
- Total Transactions increased by 106%
- Total recurring revenue increased by 71%
Revenue for the quarter ended April 30, 2005 (Q3) increased 34% to
$1,959,661, from revenue of $1,463,433 in Q3 2004. Revenue was primarily
derived from transaction services (82% of total revenue for Q3 2005 vs. 57%
for Q3 2004), maintenance services (6% for 2005 vs. 12% for 2004),
professional services (8% for 2005 vs. 1% for 2004) and sale of kiosk systems
(0% for 2005 vs. 3% for 2004). Total recurring revenue for Q3 2005 including
transaction services and maintenance services revenue increased 71% and
accounted for $1,719,601 or 88% of total revenue, compared to $1,007,741 or
69% for the quarter ended April 30, 2004. Cost of sales for the same period
was $1,265,611, an increase of 71% over costs of $739,352 for Q3 2004.
Revenue for the nine months ended April 30, 2005 increased 31% to
$6,021,506 from revenue of $4,610,049 recorded in the nine months ended
April 30, 2004. Revenue was primarily derived from transaction services
(73% of total revenue for YTD Q3 2005 vs. 51% for YTD Q3 2004), maintenance
services (6% for 2005 vs. 12% for 2004), professional services (13% for 2005
vs. 3% for 2004) and the sale of kiosk systems (5% for 2005 vs. 7% for 2004).
Total recurring revenue for the nine months ended April 30, 2005
including transaction services and maintenance services revenue increased 64%
and accounted for $4,782,225 or 79% of total revenue, compared to $2,919,034
or 63% for YTD Q3 2004. Cost of sales for the nine months ended April 30, 2005
were $3,773,505, representing an increase of $1,555,336 or 70% over the costs
of $2,218,169 for the same period ended April 30, 2004. 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. 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 152% to $144,683 for Q3 2005 and in conjunction with interest
expense of $70,913 (compared to $1,279 for Q3 2005) and a 101% increase in R&D
costs of $111,980 contributed to an overall net loss of $ 587,146 compared to
net loss of $182,996 for Q3 2004. For the nine month period ended
April 30, 2005, amortization increased by 154% to $375,457, interest expense
increased to $124,721 (from $451 during the same period last year), research
and development increased by 71% to $270,094 and Foreign exchange loss was
$113,404 contributing to a YTD loss of $ 1,078,685.
In Q3 2005, the number of transactions generated by the Company's
self-service bill payment application increased 106% to 516,882 (from 251,280)
and the number of kiosks enabled for these applications increased 81% to 398
(from 220) from Q3 2004 (excluding the Company's Canadian kiosk network). For
the nine months ended April 30, 2005, the number of transactions generated by
the Company's self-service bill payment application increased 109% to
1,357,080 (from 649,048 during the same period the year before). Quarter to
quarter growth in the number of transactions was 13%. Quarter-to-Quarter
growth in gross margin was 23% as the kiosks mature and become profitable.
Gross margin from transactional income for the quarter grew by 52% to $414,000
from $273,000 for the same period one year ago. Gross margin from the one-time
sale of software and kiosk systems for the quarter decreased by 76% to $79,000
from $329,000 during the previous year. The decreases in one time revenue as
the Company focuses its efforts on growing its base of recurring transactional
revenue.
During the quarter the Company completed a convertible debt financing for
gross proceeds of $2.1 million and subsequent to the quarter, the Company
announced a new location agreement with Maverik Country Stores. All kiosks
deployed in the Company's core networks during the period were corporate owned
as the Company continues to maximize its ownership of the transactional
revenue streams.
"The company continues to aggressively expand the TIO network in order to
capitalize on its first mover advantage and in doing so build compelling
streams of transactional revenue. In Q3, recurring revenues including
transactional, maintenance and the recurring portion of the professional
services increased to 96% of total revenues," stated Hamed Shahbazi, Chairman
and Chief Executive Officer of Info Touch. "The TIO brand has been very well
received by all of the company's stakeholder groups ie. location partners,
biller and application service partners and most importantly by consumers."
Conference Call:
You are invited to attend a conference call on Thursday June 16th at
2:00pm Eastern Standard Time to review the Q3 2005 financial results. The
dial-in numbers are 416-640-4127 in Toronto, or, Toll Free 1-800-814-4857.
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:
Jose Guerrero - Chief Financial Officer
Info
Touch Technologies
Tel: (604) 298-4636, Ext. 222
Toll Free: 888-679-3322
Email: jose.guerrero@infotouch.net
John Lewis Business Development
Info
Touch Technologies
Tel: (416) 364-2266
Toll Free: 1-877-600-6001
Email:
jrlewis@infotouch.net
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