CALGARY, Aug. 24 /CNW/ - Following on its strongest first quarter to date, Ivrnet Inc. (TSX Venture:IVI) reports continued profitability in the second quarter of 2006.

Net income for the Q2 was $2,824 compared to a loss of $140,547 for the same quarter in 2005. Year to date net income is $10,014. Revenues for the second quarter of 2006 were up 52% to $283,767 compared to $186,656 for the same quarter in 2005.

In addition the company saw a reduction in accounts payable from $490,589 at the end of Q1 to $288,201 at the end of Q2, and an increase in Accounts Receivables from $179,829 to $286,110. While financial controls are expected
to reduce both these numbers in the third quarter the company expects to maintain the strong ratio of receivables to payables that was obtained in Q2.

A full analysis of the Quarter can be found by visiting www.sedar.ca.

Also in the Quarter Ivrnet concluded the acquisition of new technology and software rights from Voicelink Inc., and as previously announced on June 11th, Voicelink's President Eric Lowther has joined Ivrnet as Vice President of Client Services. Ivrnet is expected to start delivering new custom applications utilizing Voicelink's Voice Recognition platforms in Q3 and Q4 of 2006.

Subsequent to the quarter, Maurice Reaume has taken on the roll of Corporate Secretary, replacing Mr. Ross Drysdale who stepped down to allow Ivrnet to reduce costs by bringing this function in-house. Mr. Reaume is expected to remain as Corporate Secretary for the foreseeable future.

The increase in operations capacity over the first half of 2006 allowed Ivrnet to generate earnings off of the infrastructure and technology investments made into the Company over the last two years. The further addition of new technologies and capabilities will allow continued expansion into new markets and will allow the Company to continue providing leading edge services. In 2006 the Company has seen increased sales as new distribution channels begin to mature, and as new telephony based products are completed and released over the balance of 2006 growth is expected to continue.

About Ivrnet Inc. - Ivrnet is a technology company offering hosted telephone and business solutions comprising the integration of telephone and Web technologies. Ivrnet offers these integrated solutions to a variety of markets including Golf, Medical and Automotive industries. Ivrnet also offers a number of telephony products including Unified Messaging services, Telephone Switches, Hosted Call Centers, and Conference Calling interfaces.