Value Exchange International, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 13, 2020 at 04:22 pm EST
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Value Exchange International, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced operating income was USD 174,000 compared to USD 118,711 a year ago. Net income was USD 248,449 compared to USD 160,979 a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago. For the nine months, operating income was USD 47,007 compared to USD 497,260 a year ago. Net income was USD 305,169 compared to USD 635,396 a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago.
Value Exchange International, Inc., formerly Sino Payments, Inc., is a credit card processing and merchant-acquiring services company. The Company provides credit card clearing services to merchants and financial institutions in the People's Republic of China (PRC). It provides Internet protocol (IP) processing services in Asia to bank card-accepting merchants. The Company markets its services to local merchants with regional retail locations across Asia Pacific. The Company, through its subsidiaries, is engaged in providing information technology services and solutions, which consists of select services and solutions in computer software programming and integration, computer systems, Internet and information technology systems engineering, consulting, and administration and maintenance, including e-commerce and payment processing.