BSM Technologies Inc. (CVE:GPS) (PINK:BSMZF) share price remains driven by a recently published quarterly report which presented solid improvements in business financials.
GPS had added 25% during Wednesday’s trading session but struggles to sustain the momentum mainly due to liquidity issues and profit taking on the preceding rally. Daily trading volume was over 4 million yesterday, significantly above the average 747 thousand.
The increase in share price was based on fundamental changes, so it has merit to stay up over a short period. On August 30, 2011 BSM reported financial and operating results for the quarter ended June 30, 2011:
- The report stressed the importance of fifth consecutive quarter of positive EBITDA, which totaled $305 thousand for the latest period;
- Revenue was $3.9 million, up 14% compared to the same quarter of 2010;
- Net income totaled $239 thousand, compared to just $22 thousand in 2010;
- Ended the quarter with $761 thousand in cash and $1.5 million in working capital.
The company had a cyclical spike in revenue thus upcoming quarter should be expected to show less improvement.
BSM Technologies Inc. offers wireless solutions that allow businesses to improve customer service, reduce costs, improve efficiency and security. The solutions offered include real time fleet management and diagnostics, monitoring of fixed assets and automated vehicle security.
