OTTAWA, Feb. 18, 2016 /CNW/ - In-Touch Survey Systems Ltd. (TSXV: INX) today announces that 2015 revenue has exceeded $10 million resulting in a growth rate of more than 20% for the year. The 2015 actual audited results will be released later in March.
Based on the current customer orders and the strength of its plans for 2016 the company is forecasting growth of 40% in 2016 which will result in revenue in excess of $14 million. The significant growth is forecasted based on expected performance from its legacy lines of business as well as from its new software licensing and recurring revenue models.
"We are very pleased to announce that we have exceeded our targets for growth in 2015 as well as the tremendous growth forecast in 2016," says Cameron Watt, President & CEO at In-Touch Survey "In particular, we are very optimistic regarding the future potential for us to deliver recurring revenue from software licensing."
"We are also looking for additional levers to pull around both organic and acquisition activity which would allow us to improve on the 40% growth forecast", added Watt.
About In-Touch Survey
In-Touch Survey Systems operates under the trade name of "Intouch Insight" and provides real-time insights for business improvement. By providing connected data capture and analytics solutions they are able to bring insights from the field to their clients. Their client base includes many fortune 500 customers and has concentrations in the retail, foodservice & hospitality, gas & convenience, financial services, automotive and pharmaceutical industries.
The company trades on the TSXV under the symbol INX. Its full product lines can be seen through its website at intouchinsight.com.
Certain statements included in this news release contain forward looking statements, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management warns the reader that hypotheses relative to future events which are beyond the control of management could prove to be inaccurate given that they are subject to certain risks and uncertainties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE In-Touch Survey Systems Ltd.
For further information: George Pretli, CFO, (613) 270-7916, email@example.com, www.intouchsurvey.com