International Monetary Systems Ltd., a New Berlin-based provider of business-to-business barter services, reported a net loss of $150,255 for the third quarter, which was widened from a net loss of $115,693 for the same period a year ago.
The company reported spending more than $500,000 on new computers, monitors, printers, servers, and other equipment to enhance the efficiency of its trade brokering staff.
The company's total expenses increased 106 percent to $.7 million in the quarter.
The firm attributed its disappointing results to rising costs of integrating acquisitions, higher non-cash charges for amortization of membership lists and the hiring of additional sales staff, trainers, public relations staff and IT specialists.
International Monetary Systems (IMS) serves 17,000 customers representing 25,000 cardholders in 49 U.S. markets.
New Berlin bartering firm reports losing quarter
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