TIO Networks (fka TNC)

[junkHustler]

TIO Networks 2012 Q3 revenue increased 9% to $10.3 million

~ Nine month revenue increased 18% to $31.5 million

VANCOUVER, June 22, 2012 /CNW/ - TIO Networks Corp. (TSX-V: TNC) today announced its third quarter and nine month financial results for the period ended April 30, 2012.

BUSINESS HIGHLIGHTS

1) Net income of $45,774 and $226,812 respectively for the quarter and nine month periods;
2) Cash flow from operations before non-cash working capital items was $159,582 and $974,759 respectively for the quarter and nine month periods;
3) The mobile and web channels processed 158,013 transactions and accounted for 3% of revenue for the quarter compared to nil one year ago;
4) The TIO Wallet program now has 230,347 subscribers with 52,577 subscribers added in Q3;
5) The Company ended the period with cash, cash equivalents and restricted cash of $2,982,000 and no long term debt.

*EBITDA is a non-GAAP measure - earnings before interest, tax, depreciation and amortization, and stock-based compensation.

"The Company achieved continued profitable growth, while aggressively investing in our future," said Hamed Shahbazi, Chairman and CEO of TIO Networks. "This fiscal year we have substantially increased our R&D and sales and marketing initiatives to pursue revenue opportunities, upgrade our transaction origination platforms in every channel, and develop new products such as TIO wallet and TIO MobilePay for debit and credit payments. "These are the first of a suite of unified cloud-based products to serve the 60 million Americans with limited access to mainstream financial services. TIO's entire transaction processing platform is undergoing a fundamental upgrade that will decrease our integration costs, improve our "time to market" on new billing system integrations and support our Wallet initiatives.

Conference Call:
A conference call to discuss the results will be held on Friday June 22, 2012 at 1:30 pm EST, 10:30 am PST. To participate in the conference call please dial, [phone] in Toronto or Toll free, 1-800-731-5319 and request the TIO Networks Conference.

TIO Networks Corp, (TSX.V: TNC) is a cloud based multi-channel bill payment processor serving the largest telecom, wireless, cable and utility network operators in North America. With more than 60,000 physical location endpoints to its bill payment processing network, TIO symbolizes fast, convenient and secure access to high quality bill payment services. Please visit www.tionetworks.com

TIO Wallet
TIO Wallet is the premiere payment wallet for the underserved. It is designed to serve the estimated 60 million Americans with limited access to mainstream financial services. For more information on TIO Wallet, please follow us on Twitter @TIOWallet (www.twitter.com/TIOWallet, visit our Facebook page at www.facebook.com/TIOWallet, or visit http://www.TIOmobilepay.com for a video preview.