I like INIV here. Great revenue growth, almost no debt. Another one of them undiscovered gems, perhaps.
Year Quarter Revenue
2000 Full Year 10,000
2001 Full Year 1,020,000
2002 1 2,790,000
2002 2 2,990,000
2002 3 4,230,000
2002 Full Year 14,780,000
2003 1 5,490,000
2003 2 7,000,000
Innovative Software Technologies Announces Second Quarter & Six Month Results
FRIDAY, AUGUST 15, 2003 6:30 AM
- BusinessWire
PROVO, Utah, Aug 15, 2003 (BUSINESS WIRE) -- Innovative Software Technologies, Inc. (INIV) today announced its financial results for the second quarter ended June 30, 2003, and for the six-month period ended June 30, 2003.
Sales for the three-month period ended June 30, 2003, rose 134% to $6,997,995 from $2,994,339 for the comparable period last year. Net income was $252,711 versus $152,026, a 66% increase over the previous year's second quarter results.
For the six-month period ended June 30, 2003, Innovative Software reported that sales increased 116% to $12,491,203 from $5,789,035 for the six months ended June 30, 2002. Net income for the six-month period ended June 30, 2003, was $352,608, a 1% increase over the previous year's six-month net income of $348,334. Net cash provided by operating activities for the six months ended June 30, 2003, totaled $1,475,974 versus $663,239 for the comparable year ago period.
"The decision to consolidate virtually all of our administrative and fulfillment operations to Utah, combined with bringing our technical support and coaching services back in-house, are two factors that we believe helped us improve sales in the second quarter," said D. Shane Hackett, President & CEO.
AI
