One company that is evolving into a global presence is TouchIT Technologies Inc. Located in Istanbul, Turkey, TouchIT Tech has earned a stellar reputation by designing, producing and marketing touch-based visual communication products. Today, TouchIT turned the heads of investors when they reported 445% growth for the second quarter of 2010.
TouchIT Tech showed a gross profit of $752,123, up from $79,408 for the same period of 2009, and an increase in net income of $451,740 compared to the six month period ended June 30, 2009.
To go along with these stellar reports, TouchIT Tech also announced an increase in its cash balance and accounts receivable. The company also has no long-term debt and has recently received financing as a result of a reverse merger transaction.
One of the leaders at TouchIT Tech is Andi Brabin who serves as the President of World Wide Operations and CFO. Commenting on what potential this growth will mean to TouchIT Tech, Brabin was quoted as saying, “I am pleased to report a second consecutive profitable quarter with increased revenue and improved earnings. We are now entering the two most active quarters of the year for education purchasing, so we are confident in living up to our revenue projections.”
Currently, TouchIT Tech is trading in the $0.28 range. With this positive financial news and a number of manufacturing facilities across the globe, TouchIT Tech is a company to keep an eye on.
To learn more about TouchIT Technologies Inc., visit the company website at: www.touchittechnologies.com.