New Berlin-based International Monetary Systems Ltd. reported second quarter net income of $98,647, up from $77,196 in the same period a year ago.
The company’s net income per share remained flat at 1 cent.
During the quarter ended June 30, 2012, IMS generated revenues of $3,390,078, an increase of $56,939 or 1.7 percent from the second quarter of 2011.
The company has completed the sale of two franchise territories during the year. They are not expected to have a material effect on the company’s results of operations for the next 12 months.
During the six months ended June 30, 2012, 793,351 shares of the company’s stock have been repurchased under the firm’s stock buyback plan and stock buyback guarantees.