August 13, 2010 (FinancialWire) (Investrend Information Syndicate) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — International Monetary Systems, Ltd. (ITNM.OB) has reported its financial results for the second quarter and six-month period ended June 30, 2010 (see http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001097430).

For the second quarter ended June 30, 2010, gross revenue improved to $3,541,872 compared with $3,481,819 in the year-ago quarter. The improvements in gross revenue were the results of the company's successful efforts to increase activity in its corporate barter division.

Operating expenses for the quarter were $3,105,100, compared with $3,190,938 in the year-ago second quarter. Operating income for the second quarter 2010 increased 50.2% to $436,762 for the quarter, compared with $290,881 in the second quarter 2009.

Net income for the quarter increased 23.8% to $222,717, or $0.02 per diluted share, compared with $179,951, or $0.02 per diluted share reported in the year-ago second quarter. EBITDA (Earnings before interest, taxes, depreciation, and amortization), reached a quarterly record of $840,857, compared with $703,715 for the year-ago second quarter.

For the six months ended June 30, 2010, gross revenue was $6,612,293 compared with $6,833,043 in the year-ago six-month period. Operating expenses for the six-month period were $6,434,735, compared with $6,485,848 in the six-month period of 2009. Operating income for the six-month period was $177,558 compared with $347,195 during the comparable 2009 six-month period. Net loss for the six-month period 2010 was $98,045 or $0.01 per share, compared with net income of $125,582 or $0.01 per share in the year-ago six-month period.

Donald F. Mardak, Chief Executive Officer of International Monetary Systems said, "Our financial results this quarter benefited from an improved mix of business, including an increase in national accounts and a newly instituted program for small- to- medium-sized start-up companies, combined with operational efficiencies that we instituted over the past year. As we continue to demonstrate the benefits of our barter system to larger companies, we have been successful in attracting new business throughout the country, with particular strength from the hospitality industry, where new member enrollment has been brisk."

"In addition to the improved revenue attributable to national accounts, we also continue to benefit from our core base of small business clients. The combination of these two segments has added much depth to the unique benefits that we offer our expanding group of members, as businesses strive to reduce their inventory levels, and barter for products and services that help to improve their own financial results," he added.

Mr. Mardak concluded, "We continue to work on improvements to our infrastructure, and expect to launch our new operating system in the third quarter. This, combined with our anticipated growth in national accounts, is expected to continue driving improvements in all aspects of our operation."

Use of Non-GAAP Measures

The company feels that EBITDA (Earnings before interest, taxes, depreciation and amortization) is an important measure of operations as it shows the contribution of ongoing operations, without the significant non-cash expenses associated with acquiring the markets.

Founded in 1985, International Monetary Systems (IMS) serves 23,000 cardholders in 50 North American markets. Based in New Berlin, Wisconsin, and managed by seasoned industry veterans, IMS is one of the largest publicly traded barter companies in the world. The company's proprietary transaction clearing software enables businesses and individuals to trade goods and services online using an electronic currency known as trade dollars. The IMS network allows companies to create cost savings and connect to new customers by incorporating barter opportunities in their business models.

More about ITNM: Other FinancialWire(tm) news about International Monetary is accessible via The FinancialWire(tm) search function (at http://www.financialwire.net/?s=itnmtcb), additional information and independent research on International Monetary is available via Investrend Syndications (at http://www.investrend.com/synd0006), and official information and company filings from International Monetary are accessible via the SEC website (at http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001097430).

Equity research on any public company is available through the Shareholders Research Alliance (go to http://www.investrend.com/synd0004 for more information).  Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html).  Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[ssryrsyr] [nthrdrdrht] [pltfrm] [itnmtcb] [synd0006] [bsdarrgnmnt] [ntntlmntrysys] [bnkngnknb] [nvstmntbnkg] [fnccmms] [dscrtnryrn] [prfssnlsrvctsrc] [tchnlgy] [advnctchnlgy] [ftrdnwswnd] [rngsgnrrngs] [corprtflng]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.