TORONTO, ONTARIO--(Marketwire - Feb. 3, 2012) - Phonetime Inc. (TSX:PHD) today reported its preliminary unaudited financial results for 2011. The Company expects to earn $120M in Revenue and $3 Million in Net Income or $0.02 per share, compared to $138 Million in revenue in 2010 and a Net Loss of $2 Million or ($0.03) per share or a $5 million improvement in Net Income year over year.

Expected 2011 Financial Highlights:

  • Net Income of $3 Million compared to a Net Loss of $2M
  • Total Assets of $21 Million compared to $25 Million in 2010
  • Total Liabilities of $11 Million compared to $17 Million in 2010
  • Total Equity of $10 Million compared to $7 Million in 2010
  • Bank debt of $0.3 Million compared to $2.5 Million in 2010
  • Unutilized available borrowings of $2.2 Million compared to Nil in 2010

"Phonetime is pleased that its restructured business model is generating profits." said Gary Clifford, Executive Chairman."

About Phonetime Inc.

Established in 1994, Phonetime is a leading provider of international and domestic switched voice services to the worlds telecommunication operators and voice service providers. Phonetime's customers and suppliers include, fixed line operators, mobile operators, retail and VoIP service providers, who buy and sell voice and IP telecommunications services. Phonetime recently completed a new milestone of over 1,000 commercial agreements which enables it to provide a complete global footprint. Phonetime has traders in Europe Asia and the Americas and has a proprietary trading platform with embedded intelligence, which includes profitability benchmarking, call routing, credit management, network quality visibility and loss prevention. As voice technology evolves Phonetime has commoditized its trading philosophy and along with its platform is positioned to emerge as a leading clearing house. Phonetime is a public company listed on the Toronto Stock Exchange (TSX).

Caution Regarding Forward Looking Information:

This press release contains forward-looking statements, which may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. Phonetime's actual results could differ materially from those currently anticipated due to a number of factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time. See which contains all securities files.

Contact Information:

Phonetime Inc.
Gary Clifford
Executive Chairman