Profits at Business Exchange Decline by 17% in 1st Quarter
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Business Exchange, a North Hollywood-based business-to-business barter company, reported a 17% decline in profits on a 6% decline in sales for its first quarter ended Oct. 31. The company attributed the results to a decline in membership that resulted in lower fees.
Net income was $44,000 in the most recent quarter compared to $53,000 in the same period a year ago. Earnings per share were 3 cents in both quarters. Sales were $700,000 in the 1985 quarter, down from $748,000.
Business Exchange said it provides barter services to more than 10,000 businesses through 70 offices covering approximately 200 cities in the U.S. and Canada. The company is also a real estate developer through its BX Realty subsidiary, which is building 296 condominium units in Pomona.
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