Friday, May 20, 2011 9:25:23 AM
8:55a ET May 18, 2011 (GlobeNewswire)
-- Commenced delivery on the GPSShoe for Aetrex
-- Continued International Expansion through Licensing to China, Australia
and New Zealand
-- Increased PortableGPSDevice Sales
-- Expands into Emerging ProximityMarketing Business by delivering real
time daily promotions from over 100,000 Chamber of Commerce Businesses
to 1 Million LOCiMOBILE users
-- Decreased net loss by 25%
LOS ANGELES, May 18, 2011 (GLOBE NEWSWIRE) -- GTX Corp (OTCBB:GTXO), a leader in customizable, 2-way GPS Personal Location Services (PLS) solutions, today reported financial results for the first quarter of fiscal year 2011.
Revenue in the first quarter was 81% higher than the comparable prior-year period. The increase reflects growth in the Company's three subsidiaries, through multiple domestic and international channels and from both enterprise customers and consumers.
The decrease in net loss for the first quarter was due to overall cost cutting measures causing a decrease of approximately $161,000 or 25% in comparison to the comparable period in 2010.
Patrick Bertagna, CEO of GTX Corp, commented, "Our efforts to increase revenue and decrease net loss is evident with approximately $69,000 in revenues generated from the sale of LOCiMOBILE Apps, an additional $38,500 as a result of the Aetrex agreement and $5,000 from the Wuhan Test Agreement. The additional revenue increase was generated from device sales, software licensing, monthly monitoring subscriptions, advertising, Code Amber news feed subscriptions, sponsorships and Alertags."
About GTX Corp (OTCBB:GTXO):
A leader in enterprise 2 way GPS real-time personal location services (PLS) was founded in 2002 and is based in Los Angeles, California with distributors in Mexico, Australia and Nepal and customers in 115 countries. GTX Corp utilizes the latest in miniaturized, low power consumption technology and offers a robust enterprise GPS and cellular location platform to track in real time the whereabouts of people, pets, vehicles and high valued assets. Answering the "where is" question through a licensing business model and providing a complete end to end solution of hardware, middleware, apps, connectivity and professional services, letting you know where someone or something is at the touch of a button. GTX Corp also owns and operates LOCiMOBILE, Incwhich develops applications for smartphones and tablets, Code Amber News Service, and Code Amber Alertag. The Company has an aggressive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trade marks, copy rights and URL's.
The GTX Corp logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7530
Visit online: www.gtxcorp.com - www.facebook.com/gtxcorp - www.twitter.com/gtxcorp Product and licensing - info@gtxcorp.com Investor Relations - (213) 489.3019 ext 646 - ir@gtxcorp.com Media - Suzy Ginsburg (713) 334.2357 suzy@gcomworks.com
About GLX - The Global Listing Exchange:
The Global Online Investment Community - GLX provides interactive advertising, conference and event coordination, digital IR/PR, journalism, market intelligence, media/marketing, news dissemination, research, video production and ancillary specialty communications services to publicly traded companies worldwide.
GTX Corp does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by GTX Corp. Further GTX Corp cannot be held responsible or liable for the unauthorized use of this document's content by third parties unknown to the company.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: GTX Corp
CONTACT: GLX, Inc.
Ronald P. Russo, Jr. - Social Equity Officer
editor@glxinc.com
www.glxinc.com
Information provided by , PRNewswire, Businesswire, News provided by ,Copyright ©2011. All rights reserved.
3rd Party Research Disclosure /wwws-9:24:22
Market Data Disclosure
Let us all share in the wealth of information and knowledge!
Recent MLRT News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 09:20:14 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 09:21:10 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 09:30:17 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/18/2024 08:17:50 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 05/24/2024 08:34:39 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 09:14:21 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM