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 announces 2004 financial results
Burnaby, BC, December 16, 2004
Info Touch Technologies Corp. (TSX-V: IFT)
("Company") today announced financial results for the fiscal year ended
July 31, 2004.
Total revenue for the year was $6,142,066 compared to $6,832,395 one year
ago with a net loss for the year of $1,267,671 versus a profit of $917,550 one
year ago.
The shift in the financial results of the Company was specifically
related to a strategic decision to maximize corporate ownership of kiosks in
order to optimize the company's share of lifetime recurring revenues
(transactional income).
During fiscal 2004, the Company deployed 156 kiosks into its core
networks and maintained ownership of all of them. Conversely, during fiscal
2003, the company deployed 133 kiosks and maintained ownership of only 15. In
2003 kiosk sales accounted for $3,407,239 or 50% of total revenue and in 2004
accounted for only $371,797 or 6% of total revenue. In terms of gross margin,
kiosk sales accounted for $189,000 gross margin in 2004 compared to $871,000
in 2003.
New kiosk deployments, typically require between 8-10 months to attain
approximately 80% of their expected regular transactional volumes. As a
consequence, the benefits of the Company's improved share of recurring
revenues will be reflected in subsequent quarters.
The key metrics associated with the company's core business of
transactional income from the usage of its financial services kiosks were
positive. Management was successful in shifting the revenue make-up of the
Company from a one-time sales model to more of a recurring revenue model.
Revenues derived from transaction services were 59% of total revenue in fiscal
2004 versus 22% for 2003, and maintenance services were 11% versus 5% for
2003. Total recurring revenue for the year ended July 31, 2004 including
transaction services and maintenance services revenue increased 134% and
accounted for $4,334,976 or 70% of total revenue, compared to $1,853,187 or
27% for the year ended July 31, 2003.
The following items also impacted the financial results for 2004:
1-Amortization of property and equipment in the amount of $244,825 (compared
to $81,910 in 2003), 2- Stock Option Expense in the amount of $94,698
(compared to $0 in 2003), 3- Legal fees associated with settled claims in the
amount of $247,889 (compared to $10,000 in 2003).
"The Company's core business of processing self-service bill payments and
automated financial services has now become the economic engine of the
Company," stated Hamed Shahbazi, Chairman and Chief Executive Officer of Info
Touch. "Info Touch has made a substantial investment and engineered a
meaningful transition in its business activities over the past couple of years
to facilitate a scalable recurring revenue business model."
Conference Call: You are invited to attend a conference call on Monday
December 20th at 4:15pm Eastern Standard Time to review the 2004 fiscal year
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
the 'outsourced category manager' for automated services in the convenience
retail and wireless industries. The Company provisions convenient cost
effective solutions for bill payment processing, financial services
aggregation, facilitation and self-service automation. Info Touch's Premiere
(powered by Surfnet) is the preferred software platform for the delivery of
automated services such as bill payment, money transfer, digital
merchandising, PIN dispensing for pre-paid products and services, maps and
directions, check cashing, electronic couponing, etc. Info Touch's clients
include: Circle K, ExxonMobil, Alimentation Couche-Tard, Cricket
Communications, Memphis Light Gas and Water (MLGW), Qwest Communications, etc.
Visit www.infotouch.net.
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
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