Yesterday ITEX CEO Steven White made a presentation at the Roth Capital Partners 20th Annual Growth Stock Conference in Laguna Niguel, California. He described ITEX’s current operations and business initiatives.

In connection with the presentation, the Company is reaffirming its revenue forecast for the fiscal year ended July 31, 2008, as previously announced in a February 14, 2008 press release and Form 8-K. According to the Company, fiscal 2008 revenues are expected to surpass $15,000,000. The Company is also announcing certain preliminary, unaudited results for its second quarter. Mr. White is expected to announce that cash flow for the quarter ending January 31, 2008 was up 141% over the comparable period for the previous year. Mr. White will indicate that cash flow increased for the quarter ending January 31, 2008, contributing to cash on hand of $1,091,000 as of January 31, 2008 over triple the amount just three months ago.

ITEX is doing well and gaining traction in a variety of initiatives. “We look forward to reporting our full 2nd quarter earnings on Monday, March 3,” said Steven White, Chairman and CEO of ITEX. (The preliminary quarterly results are unaudited, based on the best information currently available to the Company, and are subject to the completion of our customary procedures and review for the period.)

“This is an amazing venue to present the ITEX story; a vibrant and interested group of public company entrepreneurs and savvy investors,” said Mr. White. A primary interest of the attendees is revenue growth and cash flow key metrics which define a business’s success and potential interest by the investment community. Attendees appear to be searching out intriguing business models that are scalable, which makes ITEX Corporation a company worthy of being followed.

Mr. White’s presentation includes statistics on the impressive size of the small business segment, ITEX’s primary customer. Statistics show there are between 20 million and 27 million small and micro-businesses in the U.S. “This is ITEX’s primary customer,” said White. “Capturing this segment of the business community is our task and when we are discovered, the potential of ITEX could be truly remarkable.”

About ROTH -

ROTH is a full service investment banking firm dedicated to the small and micro-cap market.. Since the inception of the firm in 1984 ROTH has been a leader and innovator in the small and micro cap markets. ROTH’s exclusive focus has been, is, and will continue to offer a full spectrum of investment banking services, including raising capital, research coverage, trading and market making, merger and acquisition advisory services, and investor conferences. ROTH has raised over $10 billion for small and micro cap public companies and completed over 135 merger, acquisition and advisory assignments.

About ITEX

ITEX, The Membership Trading CommunitySM, is a thriving community of member businesses buying and selling more than $270 million a year in ITEX dollar transactions. Member businesses increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, a leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, Washington.

Contact:
Alan Zimmelman
ITEX Corporation
425.463.4017
alan@itex.com

For more information on the commercial barter industry see: BARTER

This entry was posted on Friday, February 22nd, 2008 at 9:35 am and is filed under From the Desk of Bob Meyer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.