Forex International Trading Corp. (FXIT) promising quarter propels shares

Posted on: Monday, August 22nd, 2011
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Forex International Trading Corp. (OTCBB: FXIT) shares rocketed 21.7% to seven cents Monday, on word of strong quarterly results. Volume for the stock totaled 136,500 shares, rapidly catching up on a full-day average of around 152,000.

A news release issued August 22 reported that total revenues for the three months ended June 30, 2011 were $3.93 million and for the six months ended June 30, 2011, $7.12 million. Net income for the three months ended June 30, 2011 was $264,416 and for the six months ended June 30, 2011 a loss of $163,348.

“We are very pleased with the results of the first six months of the fiscal period. The subsidiary unit continues to grow and experience multi-digit, year-to-year growth in trading volume and customer deposits and we believe that they are on track to do between $12 and $14 million in revenue for the whole year,” CEO Darren Dunckel was quoted in the same release as saying.

Headquartered in New York, Forex International Trading Corp. operates an offshore advanced online trading platform for Forex markets to non-U.S. residents. The Company focuses on providing individual and institutional investors with a platform for buying and selling currencies, precious metals and commodity futures.

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Category: OTCBB, Penny Stocks
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