in-touch survey systems ltd (INX) Snapshot

In-Touch Survey Systems Ltd. through its IMS division, In-Touch Public Sector Group (IPSG) announced that Public Works and Government Services Canada, the common service agency for the Government of Canada's various departments, agencies and boards, has launched the buyandsell.gc.ca/tenders service to provide citizens and businesses with free access to federal government procurement opportunities. Effective June 1, 2013. Buyandsell.gc.ca is the Government of Canada's official procurement web site for government buyers publishing opportunities and industry suppliers seeking opportunities. IPSG helped PWGSC realize the vision of buyandsell.gc.ca by providing the full range of business, information management, project management, and information technology services required to support the entire project lifecycle. IPSG worked with PWGSC to create a solution to resolve content delivery and functionality challenges with PWGSC Acquisitions Branch's legacy websites. The traditionally discrete outputs of the legacy websites were woven together using open source faceted browse and search tools. This integration has enabled Acquisitions Branch to respond to client demand for integrated access to procurement information through a single integrated web presence. IPSG thought leaders helped to establish the vision for buyandsell.gc.ca, then assisted in establishing a pragmatic action plan that leveraged lessons learned and best practices of others in providing client-centric access to Acquisitions' Branch information and transactional services. Buyandsell.gc.ca complies with Government of Canada standards for web content management, cyber authentication and interoperability with the business number hub.

In-Touch Survey Systems Ltd. announced financial results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $2,282,441 against $2,790,339 a year ago. Loss from operating activities was $130,452 against earnings from operating activities of $163,708 a year ago. Net loss before income taxes was $145,339. Company-defined adjusted LBITDA decreased to $52,000 for the first quarter, compared to an EBITDA of $279,000 for the same quarter in 2012. A decrease in revenue from the IMS division was a second driver of lower revenue for the first quarter. The company expects to return to normal revenue targets by third quarter 2013 with increased revenue from new customers from organic growth and customers obtained through acquisition. The company anticipated the bottom line challenges in the quarter but did not initiate any major restructuring initiatives to reduce expenses as revenues are expected to rebound in the second and third quarters.

In-Touch Survey Systems Ltd. reported consolidated earnings results for the full year 2012. For the period, the company reported net earnings and other comprehensive earnings was $1,032,218 on revenue of $10,719,792 against net earnings and other comprehensive earnings of $1,114,904 on revenue of $8,930,735 a year ago. Earnings from operating activities was $761,362 against $1,059,741 a year ago. Net income and EBITDA were down because of increased investment in product development and marketing and the loss of two large customers in fourth quarter due to cost cutting measures in these firms. The company expects gross margins to increase and return to historical levels in 2013 as Service Intelligence customers have been fully transferred onto In-Touch systems.