"28th Consecutive Quarter of Transaction Growth"
BURNABY, BC, Sept. 10 /CNW/ - TIO Networks Corp., owner of North
America's leading multi-channel expedited bill payment network, (TSX-V: TNC),
today provided transaction revenue results for the fourth quarter ended July
2009.
-------------------------------------------------------------------------
% Growth
% Growth in Transaction in CDN
Transaction US Dollars Revenue Dollars
Quarter Transactions Revenue ($US) vs. Q4/09 ($CAN) vs. Q4/09
-------------------------------------------------------------------------
Q4/2009 1,780,121 $4,612,437 N/A $5,229,768 N/A
-------------------------------------------------------------------------
Q3/2009 1,733,879 $4,390,883 5.0% $5,468,028 (4.4%)
-------------------------------------------------------------------------
Q4/2008 1,619,454 $3,938,853 17.1% $3,981,271 31.4%
-------------------------------------------------------------------------
The Company achieved quarterly transaction growth of 5% over the previous
quarter and 17% over the previous year. In the past 30 days TIO has processed
approximately 590,000 transactions valued at $48 million US. All figures are
preliminary and subject to adjustment that will be confirmed when TIO reports
2009 fourth quarter and annual financial results for the year ended July 31,
2009.
Network Update
Subsequent to the quarter end the TIO Network surpassed 18,000
transaction endpoints with the activation of 5,000 new endpoints from the
previously announced agreement with Budget Prepay to offer the Company's
wireless, utility and cable bill payment processing services.
The Company continues to seek new network partners and bill payment
products to increase its transaction endpoints and suite of financial
services.
TIO Networks Corp.
TIO is the leading multi-channel expedited bill payment processor serving
the largest Telecom, Wireless, Cable and Utility bill issuers in North
America. With over 18,000 endpoints to its processing network, TIO symbolizes
fast, convenient and secure access to expedited payment services.
The TSX Venture Exchange has not reviewed this news release and does not
accept responsibility for its adequacy and accuracy.
%SEDAR: 00010068E