TORONTO, ONTARIO--(Marketwire - May 14, 2012) - EFT Canada Inc. (TSX VENTURE:EFT), a leader in electronic transaction processing, today announced its results for the three and nine months ended March 31, 2012. The Company reported a 74% increase in gross revenues for the nine month period ending March 31, 2012 compared to March 31, 2011.
| FINANCIAL HIGHLIGHTS | ||||||||
| Mar 31, 2012 (3 Months) |
Mar 31, 2011 (3 Months) |
Mar 31, 2012 (9 Months) |
Mar 31, 2011 (9 Months) |
|||||
| Gross Revenue | $ | 673,538 | $ | 298,205 | $ | 1,679,919 | $ | 963,911 |
| Gross Profit | $ | 451,339 | $ | 258,122 | $ | 1,208,090 | $ | 825,706 |
| Total Expenses | $ | 277,054 | $ | 197,636 | $ | 779,777 | $ | 623,178 |
| Net Income | $ | 108,475 | $ | 11,535 | $ | 358,967 | $ | 39,899 |
| EPS | $ | 0.008 | $ | 0.001 | $ | 0.027 | $ | 0.003 |
Jonathan Pasternak, Chairman, President and Chief Executive Officer said "We are pleased with the progress of the financial results of the business and its model as years of planning and investment are paying off in growing revenues and earnings for our shareholders. Our electronic payment processing segment continues to drive results while our technology department focuses its efforts on launching our new credit card processing service and creating efficiencies for our clients".
EFT Canada Inc.
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.
Contact Information:
Jonathan Pasternak
President
(416) 781-0666
jpasternak@eftcanada.com
www.eftcanada.com