Oxford, MS 5/23/2011 (PennyPayDay) -- FXIT (OTC: FXIT), an online provider of foreign exchange, or FX, trading and related services, today announced, in a press release, for the quarter ended March 31, 2011, consolidated revenue of $3.19 million. Consolidated EBITDA for the first quarter 2011 was $128 thousand.“We believe FXIT delivered very strong growth in the quarter — its quarterly revenue represent more than 42% from ALL of 2010 Triple 8 Limited’s revenue, which was accomplished while Triple 8 relocated its off-shore operating division to bigger facilities. We believe this, along with the recruitment of new employees, will position the company to capitalize on the growing online forex market place” said Darren Dunckel, Chief Executive Officer.
“I am also excited about the progress we have made at Forex International Trading over the past quarter. We have been able to transition from a development stage company with minimal or no revenue to a consolidated operating company with over $3 million in revenue and EBITDA profitable for the first time. I look forward to continuing to execute our growth strategy” Mr. Dunckel continued.
As previously announced, FXIT will host a conference call to discuss the results as well as the Company's business outlook for the remainder of the year. The call will take place after the close of the market on Wednesday May 25, 2011 at 4:15 p.m. (EDT) and will be open to all shareholders and interested parties. The conference call will be conducted by President and CEO, Darren Dunckel, and will be available by dialing 712-432-0900. The conference ID number is 758771.
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