News

Info Touch achieves 1st profitable quarter

April 1, 2003

BURNABY, British Columbia -- Info Touch Technologies says that decreases in operating costs, as well as administrative, selling and marketing expenses, narrowed the company's loss for the six months ended Jan. 31, 2003 to $53,312 from the loss of $623,233 it reported for the same period of 2002.

According to a news release, 33 percent of the company's revenue came from transactional fees, 23 percent from software and 18 percent from kiosk systems sales for the six months ended January 31, 2003.

Info Touch says it achieved profitability for the first time in the quarter ended Jan. 31 with earnings of $9,173 on revenue of $916,579, compared to a loss of $356,099 on revenue of $794,366 for the same quarter in 2002.

[Editor's note: Info Touch Technologies became Tio Networks in April 2006.]