News

Tio reports Q4 earnings

November 21, 2011

Tio Networks Corp. today announced fourth quarter and year-end financial results for the period ending July 31, 2011.

Financial highlights

• Q4 GAAP Net Income of $70,292 and EBITDA of $527,000.
• Q4 represents 36th consecutive quarter of transaction growth; TIO processed 4,101,536 transactions in Q4.
• Annual cash flow generated from operations of $1,200,983 before non-cash working capital items.
• Currency negatively impacted annual and Q4 revenue by $1,904,000 and $734,000 respectively on a year-over-yearr basis.

Business highlights for 2011

• Launched mobile payment platform and the payment industry's first mobile payment app for a major U.S. utility which quickly became a top 50 app on Apple's App store for free finance apps (top 2% of all finance apps).
• Developed TIO's web payments platform
• More than doubled the number of "transaction ready" location end points to approx 59,000

At fiscal year end, the company had a total of $2,912,483 in cash, cash equivalents and restricted cash and no long-term debt.

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