LAVAL, Quebec — 20-20 Technologies Inc., the publicly traded computer software design firm, has announced gains in both revenue and profit for the company’s fiscal year, ended Oct. 31, 2005.
20-20, headquartered here and traded on the Toronto Stock Exchange, announced that revenues for the 12 months ended Oct. 31, 2005 were $40.5 million, a 10.4% increase over the previous year.
Operating income for the fiscal year amounted to $5.9 million, or 14.7% of revenue, compared to $5.5 million or 15.1% of revenue the previous year. Net earnings were $4.3 million, an increase of 155% over the $1.7 million earned in 2004, the company reported.
“All our markets and geographical regions contributed to 20-20’s growth in 2005, driven by sustained demand in the interior design industry,” said Jean-Francois Grou, President and COO.
CEO Jean Mignault added: “We are pleased to report solid growth to our shareholders for our first full year as a public company. We remained focused on our sales and profit objectives while we carried out significant developments and an overall reinforcement of our organization, from which we should reap benefits in 2006.”