The locally headquartered survey firm reported a 190 per cent increase in profits year-over-year, as well as a 71 per cent boost in sales in its second quarter of fiscal 2012.
In-Touch revenues totaled $2.9 million, up from $1.7 million during the same period last year, with a gross profit of $1.45 million, compared to $972,787 in last year’s second quarter.
Part of its growth is due to the company’s acquisition of South Carolina-based Service Intelligence in August 2011, adding a Fort Mill, S.C. location to its American presence.
Gross margins increased by five per cent from last quarter, which In-Touch believes is a sign of the two companies’ successful integration – an ongoing activity during the past three quarters. In-Touch has retained all of Service Intelligence’s customers during the transition, and all will be migrated onto In-Touch platforms by the end of next quarter, according to the firm.
The expanding company is on the lookout for further acquisitions in the near future, stating that it hopes to buy a company in 2012 that will contribute 25 per cent growth over last year’s revenues, in addition to a 25 per cent organic growth target.
“Acquisitions are still very much a part of our ongoing strategic plan and thus efforts to identify suitable targets will continue throughout the fiscal year but will only be consummated if our financial criteria are met,” stated In-Touch CEO Michael Gaffney.
The company has exceeded its organic revenue targets for the first two quarters.
Customers that have hired In-Touch to conduct surveys for them include A&W, Purolator, Royal Bank and Canada Post Corp.
In-Touch has offices in Ottawa, Oakville, Ont., Chicago and Fort Mill, S.C.