In-Touch Changes Focus, Sees Revenue Rise 48%

Canadian firm In-Touch Survey Systems has posted a 48% increase in revenue to $1.4m in Q3, citing new US-based customers and a change of business direction as major reasons for sales growth.

'Over the past three years, we have significantly changed the strategy of the company from being just a market research company to a software and hardware solutions company,' explained CEO Michael Gaffney. 'Our customers want more than just market research. We continue to enhance our software technology and services to help our customers sell to their customers', he added.

The firm's net income increased to $164,749 compared with $1,037 last year. Cash flow from operations (adjusted EBITDA) increased 227% to $295,000 in Q3 2007, compared with $94,000 in Q3 2006.

In a statement, the management team said it is expecting full year revenue of between $4.8m and $5m, and 2008 growth of around another 40%.

Established in 1992, the company provides technology-based survey data collection tools, and in its first year of trading, introduced an electronic kiosk dedicated to measuring customer and employee satisfaction at retail and food service outlets. Its home page is at www.intouchsurvey.com.