Business Exchange’s Loss Increases for Fiscal Year
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Business Exchange Inc., a North Hollywood business-to-business bartering company, reported a larger net loss on lower revenue for the fiscal year ended July 31, contrasted with the preceding fiscal year.
The loss was $337,000 for the year, up from $227,00 the earlier year. Revenue was down nearly 12%, to $3.2 million. The preceding-year figures were restated.
The company attributed its latest yearly loss to costs associated with its real estate division, which lost $551,000. The barter division made a pretax profit of $92,000 on operations, the company said, reversing the preceding year’s operating loss in that unit by increasing fees and canceling some unprofitable memberships.
For detailed data and results of other companies, please see tables, Page 21.
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