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BSM Technologies reports fifth consecutive quarter of positive EBITDA, with a record $305,000

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  Published in Science and Technology on Tuesday, August 30th 2011 at 4:46 GMT by Market Wire
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TORONTO, Aug. 30, 2011 /CNW/ - BSM Technologies Inc. ("BSM" or the "Company")  (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems today announced financial and operating results for the three and nine-month periods ended June 30, 2011.

Q3 fiscal 2011 Highlights

• EBITDA of $305,000 was an improvement of 65% compared to Q3 2010, marking the fifth consecutive quarter of positive EBITDA results
  
  
• $3.9 million Revenue was 14% over same quarter 2010
  
  
• Net income was $239,000, an increase of $217,000 or 986% over Q3 2010
  
  
• Cash from operating activities increased by $509,000 over Q3 2010

"We are very pleased to report these strong results which reflect continued strong sales of our core Sentinel products and growth in recurring revenues," said Aly Rahemtulla, President and CEO. "Since the close of the past quarter we have continued to win new customers, added key members to our management team and ramped-up our strategies to further penetrate the U.S. market - these will further contribute to our positive earnings growth."

Financial Highlights

The Company's financial statements for the three months ended June 30, 2011, together with management's discussion and analysis, have been filed at [ www.sedar.com ].

About BSM Technologies

BSM Technologies, through its subsidiaries, BSM Wireless Inc., Datacom Wireless Corporation and SecTrack NV, is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and automated vehicle security systems providing real time, web‐based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.   No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For more information, please visit [ http://www.bsmwireless.com ]