The largest trade exchange in the U.S. has announced results for its
fiscal 2011 third quarter, ended April 30, 2011.
Third Quarter 2011 Highlights
·
Revenue of $3.960 million, compared to $4.158 million in the same
period last year;
·
Income from operations of $388,000, compared to $421,000 in the same
period last year;
•
Net income of $239,000, compared to $269,000 in the same period last
year;
•
Cash at end of period was $4.765 million, compared to $5.169 million
on July 31, 2010;
•
Repurchased 92,125 shares of common stock;
•
Paid a $0.04 per share quarterly cash dividend.
Additionally, ITEX acquired a membership list of approximately 1,500
businesses from an unnamed commercial trade exchange for $400,000.
The new ITEX members are concentrated primarily in the states of
Washington, Oregon, Utah and Georgia.
