News

Info Touch pleased with first-quarter results

February 18, 2004

BURNABY, British Columbia, Canada - Bolstered by several strong partnerships, Info Touch Technologies Corp. (IFT:CDNX) recorded record revenues of $776,905 for the first quarter of fiscal year 2002, ending Oct. 31, company officials announced on Jan. 2.

That represents a 73 percent increase over first-quarter 2001 revenues of $448,440. The kiosk developer still reported a net loss for the quarter of $167,732, but that was less than half the company's loss for the first quarter of 2001 ($462,567).

"We are very pleased with the company's performance," Hamed Shahbazi, info Touch chief executive officer, said in a news release. "This quarter reflects the hard work and success of many people and our strategic initiatives."

Among the company's accomplishments in the last six months is a strategic partnership with Phillips 66 Co. to test a line of ZapLink information and telecommunications kiosks at its Circle K convenience stores in Arizona, and a partnership agreement with Compaq Canada Corp. (See story: Compaq places faith in Info Touch).

Based in Burnaby, British Columbia, Canada, Info Touch develops and kiosk software and manufacturing solutions for public access and retail applications. The company is also offering several new technology initiatives, including voice-over Internet protocol, pre-paid telecommunications, and video teleconferencing.

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