International Monetary Systems, Ltd. (OTCBB: ITNM), one of the worldwide leaders in business-to-business barter, announced that its series of barter expos, along with sales from its online marketplace, are providing a strong finish to 2009.
Some highlights:
- The 14 barter expos and holiday gift shows generated more than $2.7 million in sales this year.
- The IMS online marketplace has had three consecutive weeks of record volume.
- For the period from May through December 16th of 2009, marketplace sales have increased by 129% over the same period last year.
During 2009, International Monetary Systems consolidated its client base by terminating members who were not active in the system. As a result, average revenue per transaction has increased by 5.3%.
CEO Don Mardak commented: “It was very refreshing to see all the excitement at our holiday expos. There was an enthusiastic buzz in the air, as IMS members were able to do their Christmas shopping without using cash. While many retailers are reporting a decline in seasonal sales for 2009, our trading volume is quite consistent with last year, as our secondary barter economy continues to enhance the businesses and lifestyles of our members.”
Like many retailers and service providers, IMS has been segueing into a less-labor-intense model, with more transactions taking place online. After a successful November, the company expects to finish 2009 with the strongest operating profit in its history.
IMS recently announced that its board of directors has authorized a share buyback program to repurchase up to 4% of its outstanding shares in public and private transactions.
