TIO Networks Corp. (TIO), owner of North America's leading automated bill payment and financial services network, today announced financial results for the fourth Quarter and the year ended July 31, 2006.After meandering about for a while and attempting multiple different business models (the company was originally a vendor of Netkey-like kiosk software), TIO Networks looks like they've really settled on a unique and (finally) profitable business model providing financial services kiosks and software primarily for use by unbanked individuals.
Revenue for the fourth quarter was $2,969,553, an increase of $801,126 or 37% over $2,168,427 as recorded in the fourth quarter of fiscal 2005. Transactional revenue increased by $496,648 to $2,343,660, an increase of 27% as compared with the same period last year. Gross profit for the fourth quarter was $1,302,624, an increase of $578,488 over $724,136 as recorded in the same quarter a year ago. Fourth quarter EBITDA(*) (earnings before interest, tax, depreciation and amortization) was $115,000 compared to ($196,000)(xx) in Q4 2005.
Tags: TIO Networks, interactive kiosks, kiosks, self-service
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