EFT CANADA INC
EFT CANADA INC ("EFT-V")
- Profit and Record Revenues
EFT Canada Inc, a publicly traded financial processing company that
offers a complete solution to the collection and payment processing needs
of small and medium sized business merchants in Canada and the United
States, to-day announced its results for the year ended June 30, 2008.
The Company, for the year ended June 30, 2008, posted record revenue of
$1,743,240, an increase of 72% versus the prior year, and a profit per
share of $0.001 compared to a loss of ($0.01) . Gross margin was 59%, up
from 51% in the prior year.
For the year ended June 30, 2008, EFT Canada registered over 136 new
clients and processed 1,787,979 electronic transactions worth a total of
$824,239,191.
"2008 was a year of tremendous progress for the Company and we are
pleased with the results," said Jonathan Pasternak, EFT Canada's CEO. "We
expect strong top and bottom line growth over the next year and will
continue to focus on executing on our strategic plan."
Summary of operating results for the year ended June 30, 2008:
(i) The Company defines EBITDA as earnings before interest, taxes,
depreciation, amortization, foreign exchange gains or losses, allowance for
bad debts and stock based compensation.
The full text of the financial statements and Management Discussion &
Analysis is available at
www.sedar.com
.
About EFT Canada
Founded in 2003, EFT Canada Inc. is a financial processing company that
offers a complete solution to the collection and payment processing needs
of small and medium sized business merchants, banks, credit unions, and
other financial firms in Canada and the United States. The Company
develops, maintains and delivers innovative electronic transaction
processing technologies, such as customized electronic payment and
collection processing solutions and gift and loyalty card services, by
drawing on its operational and applications expertise.
This press release contains forward-looking statements which reflect
the Company's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual results
could differ significantly from those projected herein.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for adequacy or accuracy of the content of the information
contained herein.
Capitalization Report for Eft Canada Inc
Shares Issued: 12580000
Shares Escrow: 1880107
