EFT Canada Inc.
TSX VENTURE : EFT

EFT Canada Inc.

September 18, 2007 10:39 ET

EFT Canada Reports Record Revenues

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2007) - EFT Canada Inc. (TSX VENTURE:EFT), a publicly traded financial processing company that offers a complete solution to the collection and payment processing needs of small and medium sized business merchants and ranked number 12 on the 2007 PROFIT Hot 50, today announced its results for the year ended June 30, 2007.

The Company, for the year ended June 30, 2007, posted record revenue of $1,014,353, an increase of 85% versus the prior year, and a net loss per share of ($0.01) compared to ($0.05). Gross margin was 55 percent, up from 51 percent in the prior years.

For the year ended June 30, 2007, EFT Canada registered over 140 clients and processed in excess of 1 million electronic transactions.

"The 2007 year was a period of significant progress for the Company and we are pleased with the results," said Jonathan Pasternak, EFT Canada's CEO. "We've just kicked off what is going to be a very strong year for EFT Canada and will continue to focus on executing on our strategic plan and further improving both our operational and financial results."

Summary of operating results for the year ended June 30, 2007:



---------------------------------------------------------------
2007 2006
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Revenue 1,014,353 547,420
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Earnings Before Interest, Taxes,
Depreciation, Amortization (30,626) (318,342)
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Net Loss (131,870) (464,984)
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Loss per share (basic) (0.01) (0.05)
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The full text of the financial statements and Management Discussion & Analysis is available at www.sedar.com.

About EFT Canada

Founded in 2003, EFT Canada Inc. is a financial processing company that offers a complete solution to the collection and payment processing needs of small and medium sized business merchants, banks, credit unions, and other financial firms in Canada and the United States. The Company develops, maintains and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection processing solutions and gift and loyalty card services, by drawing on its operational and applications expertise. For more information, please call 416-781-0666 or visit www.eftcanada.com.

ON BEHALF OF THE BOARD

Mr. Jonathan Pasternak, President & Director

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein.

The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy or accuracy of the content of the information contained herein.

Contact Information

  • EFT Canada Inc.
    Jonathan Pasternak
    President & Director
    (416) 781-0666
    Website: www.eftcanada.com