IFS International, Inc. (Nasdaq: IFSH)
today announced that its Form 10-KSB has been filed with the U.S. Securities &
Exchange Commission and reflects that revenues for the fiscal year, ended
April 30, 1999, totaled $10,164,618, a 95.2% increase over revenues of
$5,208,334 reported for the previous fiscal year. Net losses posted for
fiscal year 1999, after factoring in $781,341 in one-time, non-recurring
charges and customary interest, taxes, depreciation and amortization, were
$703,907, or $0.53 loss per share, compared to net losses of $1,261,473, or
$1.15 loss per share, reported for fiscal year 1998. Notwithstanding the one-
time, non-recurring costs, adjusted earnings before income tax, depreciation
and amortization (EBITDA) for fiscal year 1999 was approximately $1.3 million. |
