News

TIO profits in Q1

January 25, 2012

Bill payment processor TIO Networks Corp rose to profitability in the first quarter of 2012, posting a gain of $11,747.

The Vancouver-based firm recently reorganized its operation into three business units — kiosks, point-of-sale and mobile web operations — as part of its growth plan. CEO Hamed Shahbazi said that reorganization has helped contribute the growth. This year's results were far superior to the loss of $185,746 in the same period ended Oct. 31 a year earlier.

Revenue for the three month period increased to $10.5 million from $8.6 million.

Read more about bill payment kiosks.