Business & Finance
Business and Finance
Business and Finance
Tue, October 30, 2012 
October 30, 2012 10:44 ET
EFT Canada Reports Record Revenue and Earnings
TORONTO, ONTARIO--(Marketwire - Oct. 30, 2012) - EFT Canada Inc. (TSX VENTURE:EFT), a leader in electronic transaction processing, reported record revenues and net income due to a strong recurring revenue base and an increase in transactions processed for the year ended June 30, 2012.
EFT Canada reported net income of $540,893, or 4 cents per share, compared to a loss of $89,585, or .007 cents per share, in the prior year. Gross revenue increased by 102%.
EFT Canada stated that overall transactions processed rose 132%, driven primarily by an increase in new clients and an improved United States economy.
Financial and operating highlights include:
| June 30, 2012 | Year Over Year Increase | June 30, 2011 | |||||
| Revenues | $ | 2,386,562 | 102 | % | $ | 1,182,096 | |
| Gross Profit | $ | 1,618,050 | 70 | % | $ | 949,208 | |
| EBIDTA | $ | 590,201 | 595 | % | $ | 84,877 | |
| Net Income/(Loss) | $ | 540,893 | 703 | % | $ | (89,585 | ) |
| EPS | $ | 0.04 | 671 | % | $ | (0.007 | ) |
| Transactions Processed | 4,323,908 | 132 | % | 1,858,992 | |||
| Dividends Paid Per Share | $ | 0.005 | % | $ | 0.005 | ||
"We are very pleased with our financial and operational results for the year ended June 30, 2012," commented Jonathan Pasternak, President. "EFT Canada will continue to invest in new products and existing technologies and plans to launch its PCI Level 1 proprietary credit card gateway early 2013."
EFT Canada, founded in 2003, is a financial processing company that offers a complete solution to the collection and payment processing needs of small and medium sized business merchants, banks, credit unions, and other financial firms in Canada and the United States. The Company develops, maintains and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection processing solutions and gift and loyalty card services, by drawing on its operational and applications expertise. For more information, please call 416-781-0666 or visit [ www.eftcanada.com ].
This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein.
The Toronto Stock Exchange nor the TSX Venture Exchange have reviewed and do not accept responsibility for adequacy or accuracy of the content of the information contained herein.
