Investorideas.com Newswire

Investorideas.com Newswire
Be one of the most talked about companies (stocks) on social media

Investorideas.com tech news

Tuesday, November 16, 2010

http://www.investorideas.com/CO/TUCN/news/11161.asp

http://www.investorideas.com/CO/TUCN/news/11161.asp

Tech Stock Trading Alert; TouchIT Technologies Inc. (OTCBB: TUCN) Announces an Increase of 366% in Profits at the End of Q3 2010

ISTANBUL, TURKEY - November 16, 2010 (Investorideas.com newswire) - TouchIT Technologies, Inc. (OTC.BB:TUCN), a leading manufacturer of touch-based visual communication products, has announced today that sales, as well as profitability, continued to rise during the third quarter of 2010.

Total revenues for the nine month period ending September 30th 2010 reached $2.67 million, a 48% increase from the $1.8 million of revenues reported at the end of the same period of 2009. Gross profit was $878,387 or 33% of net sales, as of September 30, 2010, up 366% from $188,702 in the same period in 2009. On a GAAP basis, net income at the end of the third quarter of 2010 was $261,804. This compares with a net loss of $305,713 in the third quarter of 2009.

TouchIT Technologies is also pleased to announce an increase in its cash balance and accounts receivable. The current ratio was 1.6 at September 30th 2010, up from 1.05 at the end of Q2 2010. Additionally, the Company has no long-term debt.

"We are pleased to report continued growth in revenues and profitability during the third quarter," commented Andi Brabin, TouchIT Technologies' President of World Wide Operations and Chief Financial Officer. "The continued dramatic rise in demand for interactivity, particularly in the Middle East and United States of America, is opening new opportunities for TouchIT Technologies. In addition to organic growth from our customer base, we are opening new distribution and OEM channels with new partners all over the world," he added.

With a solid order book going into Q4, TouchIT Technologies starts the fourth quarter in a strong position.

About TouchIT Technologies
TouchIT Technologies designs, produces and markets touch-based visual communication products. We manufacture a large range of touch screen and touch board products to suit all types of application from 42" LCD touch-screens to large interactive whiteboard displays and audience response systems. We have manufacturing facilities in Istanbul, Turkey and Sales Offices in London, UK, Co Limerick, Ireland and Boston, Massachusetts USA.

Twitter - @touchit_tech Facebook - http://www.facebook.com/pages/TouchIT-Technologies/173036316391

Visit the TUCN showcase profile at Investorideas.com: http://www.investorideas.com/CO/TUCN/
Request News and Info on TUCN: http://www.investorideas.com/Resources/Newsletter.asp

Visit this company: www.touchittechnologies.com
Disclosure, Disclaimer/ TUCN is a paid advertising client on Investorideas.com.

Published at www.Investorideas.com - Global research by sectors

If you have any questions regarding information in this press release please contact the company listed in the press release.

Connect with Investorideas.com - http://www.twitter.com/Investorideas Publish Your News - Send a release - http://www.investorideas.com/News-Upload/

Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.

Investorideas.com Disclaimer: http://www.investorideas.com/About/Disclaimer.aspInvestorideas.com Disclosure: http://www.investorideas.com/About/News/Clientspecifics.asp