News

Info Touch reports earnings, enhancements to ZapLink program

July 2, 2002

BURNABY, British Columbia -- Full-service kiosk provider Info Touch Technologies Corp. (TSX Venture Exchange:IFT) suffered a net loss of $298,461 during the third quarter of fiscal year 2002, ending April 30, company officials disclosed on July 2. The company reported a net loss of $209,437 during the same period in 2001.

Revenue for the period also declined sharply, dropping from $1,028,982 to $714,084, a decrease of 30.6 percent.

"The company has continued to develop its kiosk management and logistic services to enhance its revenue streams, and is continuing its efforts to develop its network of kiosks as a gateway for its monetization-advertising division," the company stated in its quarterly report. "These projects are typically more complex and involve a longer sales cycle."

Despite the increased loss, Info Touch's year-long figures are still stronger than in 2001. For the nine months ending April 30, the company has registered a net loss of $817,692 compared to $1,597,118 in 2001, a decrease of 48.8 percent.

In other news, Info Touch announced that KB Home, a homebuilder that has created communities in seven southern and southwestern states and in France, has joined Info Touch as a partner on its ZapLink kiosks. The ZapLink kiosks are currently available at 35 Circle K convenience stores throughout the Phoenix area.

Through KB Home's Web site, ZapLink customers can access company information, promotional videos, communities, floor plans, and financing options. Potential homebuyers can also view special offers from KB Home and print coupons.

KB Home officials said the venture into kiosk technology was a first for the company, but it fits with the company's goal of delivering its message through as many mediums as possible.

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