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On The Radar: International Monetary Systems

December 2, 2010 (FinancialWire) ( (Investrend Information Syndicate) — In mid-November, International Monetary Systems, Ltd. (ITNM.OB), a business-to-business barter service company, reported its financial results for the third quarter and nine months ended September 30, 2010.

Financial highlights cited by the company included: increased revenue by 1.2% compared to the third quarter of 2009; year-to-date employee costs reduced by 1.7% compared to the first nine months of 2009; as well as total liabilities reduced by more than $900,000 since December 31, 2009. The company also noted that, absent extraordinary legal fees and the cost of settling income tax audits, year-to-date net income would have been approximately $350,000.

Donald F. Mardak, chief executive officer of International Monetary, commented, "During the quarter, we continued to build our corporate barter division, and we expect it to become an increasingly larger part of our business as we devote more of our efforts toward promoting this division. We also have been successful this quarter in recruiting new members throughout the country, and expect to see the impact of our new, active members on our revenues, in the quarters ahead.”

“On the operational front, our new proprietary process management software was launched during the beginning of the quarter, and it is providing us with flexibility, customizability, in-house support, and cost savings," Mardak added.

A summary of ITNM’s financial results is posted in FinancialWire(tm)’s reference section (at

More about ITNM: Other FinancialWire(tm) news about International Monetary is accessible via The FinancialWire(tm) search function (at, additional information and independent research on International Monetary is available via Investrend Syndications (at, and official information and company filings from International Monetary are accessible via the SEC website (at


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