By: Dylan Sikes - AllPennyStocks.com News

Monday, June 29, 2015

Late last year, Lans Holdings Inc. shared its outlook for the payment processing industry. According to Lans, the electronics payments industry is continuing to grow throughout the world. Lans Holdings believes that with the revolution of digital currency, mobile payments, and digital wallets, it is crucial for merchants that they are able to reach their consumers in an effective way. Lans Holdings further noted that the growth of electronic payments has meant that digital payment processing is now reaching end customers who do not hold bank accounts. It is also facilitating fast and efficient sale of goods and services for small businesses.

Lans Holdings believes that it is a good time to enter into the digital payment space. Indeed, if results of payment processors like TIO Networks Corp. (TSX-Venture:TNC) is anything to go, it certainly looks like a good time to enter the digital payment space.

Based in Vancouver, Canada, TIO Networks is a technology company that focuses on processing bill payment transactions through a secure Internet enabled platform. This morning, the company reported its financial results for the third quarter of fiscal 2015. For the quarter ended April 30, 2015, TNC reported revenue of $13.56 million, up from $12.92 million reported for the same period in the previous year.

TNC’s gross profit for the quarter came in at $6.32 million, compared to $4.45 million reported for the same period in the previous year. Adjusted EBITDA for the quarter was $1 million, compared to $405,000 reported for the same period in the previous year.

TNC reported net income of $24,056 for the quarter ended April 30, 2015. This compares to a loss of $242,693 reported for the same period in the previous year.

TNC’s third-quarter results benefited from M&A synergies, cost control and growth in gross profit. The company believes that all of these factors drove net profitability.

Commenting on the third-quarter results, Hamed Shahbazi, Chairman and CEO of TIO Networks, said that the company is executing on its M&A synergies and related cost reduction strategies and it’s paying off. Shahbazi further said that the company has experienced record performance in adjusted EBITDA, the strongest in its history. He added that all of TNC’s acquired entities, including its core business recorded meaningful improvements in profitability in the quarter ended April 30th and the company has made strong progress with its platform consolidation and shared services initiatives.

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