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
2004 Q1 FINANCIAL RESULTS
--Transactional Revenue Increases 329%--
Burnaby, BC, Tuesday December 30, 2003
Info Touch Technologies Corp. (www.infotouch.net) (TSX Venture: IFT) today announced operating results for the first quarter ended October 31, 2003. The Company continued its trend of profitable growth with revenue increasing 125% to $1,541,091 compared to $684,822, one year ago. Recurring revenue including transactional and maintenance revenue increased 329% and accounted for $972,886 or 63% of revenue, compared to $226,595 or 33% one year ago. Net income for the quarter was $64,941 compared to a loss of ($62,485), one year ago. As at October 31, 2003, the company had net working capital of $519,037, and cash and cash equivalents of $1,405,155, as compared to a working capital deficiency of $333,622 and cash and cash equivalents of $1,010,657 as at July 31, 2003.
The positive growth figures stem from a disciplined but aggressive business model focused on the deployment of conveniently located kiosk networks. These networks are equipped with a suite of Personal Financial Services (PFS) applications such as bill payment, money transfer, prepaid pin based products and self-service lottery. Consumer funded convenience fees are now generating the vast majority of the company’s transactional revenues.
Highlighting the profitable quarter is a shift to corporate ownership of the kiosk systems. Traditionally, the systems were sold, generating one-time revenue and a minority percentage of the lifetime transactional revenue of each device. Recognizing the strong growth potential of multiple in-demand payment and software services on various kiosk networks, the Company has transitioned to a corporate ownership model that captures a majority of the lifetime revenue potential of each deployed device. Although this new model affects the Company’s ability to recognize the revenue derived from its private equity investor model, (approximately $500,000 in Q1) management is confident it is the best way to realize greater long term growth and profitability with less shareholder dilution.
Going forward, tracking new kiosk deployments and the growth in transactions is an excellent measure of the Company’s performance and potential for growth. For example, one year ago there were 37 kiosks offering a suite of personal financial services (PFS) generating 53,810 transactions. For the quarter ended October 31, 2003, the number of PFS kiosks has increased to 214, and has generated a total of 183,824 transactions, representing growth of 478% and 242% respectively. While this represents a small component of the Company’s total installed base, it represents the fastest growing and most profitable component of the Company’s network.
The Company’s primary focus for the year ahead will be to work with private equity, debt and lease-based financiers to build out its network of terminals, convert a number of terminals that are already deployed to the e-services business model and add new product applications to increase transaction numbers.
“These financial results reinforce the traction we established in fiscal 2003,” stated Hamed Shahbazi, Chairman and Chief Executive Officer of Info Touch. ”The company is utilizing every software sale as a distribution opportunity for its PFS applications. Our terminals are being sought by a large demographic of under-banked consumers who want access to conveniently located, self-serve and cash based services.”
Complete financial statements will be available December 31st at www.sedar.com
Conference Call:
You are invited to attend a conference call on Thursday January 8th at 4:00pm Eastern Standard Time to review the first quarter financial results. The dial-in numbers are 416-640-4127 in Toronto, or, Toll Free 1-800-814-4853. Callers should request the Info Touch Technologies Conference. For those unable to participate in the conference call, there will be a recording of the call available two hours after the call, for a week thereafter. The dial in numbers is 416-640-1917 or 1-877-289-8525 using the access code 21031762#.
About Info Touch
Info Touch provides software services and payment options through a secure kiosk network. For more information visit www.infotouch.net
Behshad Hastibakhsh, Media Relations
Tel: 604.298.4636, Ext. 250
Toll Free: 888.679.3322
John Lewis and Lenny Foreht, Business Development
Tel: 416-364-2266
Toll Free: 1-877-600-6001
Email: jrlewis@linearcapital.com
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for its adequacy and accuracy.
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