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News » Q2 Fiscal 2006, Record 2nd Quarter Wed Sep 28 6:13:54 UTC 2005
Real Time Measurements Inc. (TSX Venture Exchange: “RTY”) (the “RTM”) Mr. Terry Matthews, President of RTM, is pleased to announce that RTM has released its fiscal 2006 Q2 (unaudited) financial results.
For the three month period ended July 31 2005 RTM recorded the highest second quarter revenue in the company’s history. Q2 revenue increased year over year by 117% from $202,304 to $438,399. Total expenses for the period increased year over year by 70% from $240,136 to $410,103;
For the first six months of fiscal 2006, RTM reported its highest six month revenue results. Year over year six month revenue of $911,297 was 69% higher that the $539,394 reported for the same period last year. Total expenses of $811,156 were 55% higher than last year.
Revenue growth is being driven by significant increases in oil and gas company demand for RTM’s exclusive SDO service.
Net earnings for the second quarter were reported as $14,772 as compared to a net loss of -$40,306 last year. Net earnings for the first six months of $71,474 ($0.004 earnings per share) was 21 times the earnings of $3,244 for the same period last year.
Cash flow from operations for the second quarter of fiscal 2006 was $40,753 as compared to last years Q2 deficit of -$14,742. Cash flow from operations for the six month period was $133,854, a 138% improvement over the first six months last year.
Second quarter 2006 closed with a stronger balance sheet as compared to the same date last year. Working capital (current assets minus current liabilities) on July 31 2005 was $719,265. On July 31 2004, the company’s working capital surplus was $43,680. This significant year over year improvement in working capital results from the January 28 2005 financing and positive cash flow from operations.
The company has $28,672 in obligations on the current portion of the balance sheet and no long term debt.
Trading in the securities of RTM should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.