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Micro Cap Reports 81 Percent Increase in Revenue for Q1 2011
By: AllPennyStocks.com News
May 18, 2011
It was only a few years ago that GPS (global positioning system) was reserved for only the most critical of applications as it came with a hefty price tag. As with any technology, the research and development costs have weighed out, the devices have become more practical and cost effective which has led to more mainstream applications. Now, you can throw a rock and hit something that has GPS as part of it including automobiles, recreational vehicles, tagged tools and, as was recently publicized in a news blitz, cell phones. Virtually anything that needs to be tracked, now can be thanks to GPS technologies.
GPS technology has advanced exponentially and now allows for incredibly small devices to be installed as solutions to answer the most basic question of “Where is?” for a wide array of applications. Whether it is a person, property or even a pet, the benefits of GPS as a location device on the large scale are coming around the corner and heading to a store near you in the short-term.
Hailing from the tech capital of the U.S., Los Angeles, California-based GTX Corporation (OTCBB:GTXO) is a leader in two-way GPS real-time personal location services. GTX has been a pioneer in the industry for nearly ten years with distribution agreements around the world to sell its miniaturized, low power consumption GPS and cellular location platform to track the whereabouts of whatever the consumer desires. GTX offers a complete end-to-end solution that includes hardware, middleware, apps, connectivity and professional services to answer the “Where is?” question with the push of a button. Given the frequency of child abductions, GTX also offers invaluable applications through its subsidiary LOCiMOBILE, Inc. related to Amber Alerts.
As technology development often moves slowly, so does business development focused on the given technology. The novelty of GPS is now being put behind it as it slowly makes its way into more everyday applications and that appears to be starting to show through in the financials of GTX Corp. Today, the Company reported financial results for the first quarter of fiscal year 2011 which showed significant growth in revenue and a decrease in net losses.
For the first quarter 2011, revenue rose to $136,248 from $75,268 in the same quarter of 2010, representing a change of 81 percent. GTX management attributes the increase in growth to the Company's three subsidiaries, through multiple domestic and international channels and from both enterprise customers and consumers. At the same time, net losses shrunk by approximately $161,000 to $(469,663) in comparison to the year prior quarter, a change of 25 percent.
Sometimes the worm indeed turns slowly, but investors appear to be starting to recognize the potential of GXTO and the products and services that it offers. With the recent publications of more distribution agreements and better financials, the share price is trying to muster a rally of a rather flat lined stock chart. Again, it is turning slowly, but perhaps the growth in revenue, decrease in losses and increased awareness about mainstream uses for GPS outside of automobiles may be the catalyst behind a climb for GTX Corp. Proper due diligence is always encouraged.
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