News

Info Touch announces Q3 2005 financial results

June 15, 2005

BURNABY, British Columbia - Info Touch Technologies Corp., provider of self-service bill payment and financial service solutions, announced in a news release 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, N.C., deployed the Tulsa and Oklahoma markets with Kum & Go LLC and deployed the Buffalo, N.Y., 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 percent
• Total transactions increased by 106 percent
• Total recurring revenue increased by 71 percent

Revenue for the quarter ended April 30, 2005 increased 34 percent to $1,959,661, from revenue of $1,463,433 in Q3 2004. Total recurring revenue for Q3 2005, including transaction services and maintenance services revenue, increased 71 percent and accounted for $1,719,601 or 88 percent of total revenue, compared to $1,007,741 or 69 percent for the quarter ended April 30, 2004. The company did not report profits for the period.

In Q3 2005, the number of transactions generated by the company's self-service bill payment application increased 106 percent to 516,882 (from 251,280) and the number of kiosks enabled for these applications increased 81 percent to 398 (from 220) from Q3 2004 (excluding the Company's Canadian kiosk network).

"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 percent of total revenues," said Hamed Shahbazi, chairman and chief executive officer. "The TIO brand has been very well received by all of the company's stakeholder groups."

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