In what the president and chief executive officer called the “most important achievement” while discussing the company’s financial results from the third quarter,  Calgary, Alberta-based Quorum Information Technologies generated positive cash flow for the fifth straight quarter.

President and CEO Maury Marks said there were “mixed results” in the company’s financials from the third quarter of fiscal 2010.

The net loss was $226,000, compared to net income of $9 million in the year-ago period and $330 million in the second quarter.  

There was a modest year-over-year gain in revenue, which climbed from $1.853 million to $1.863 million. However, the figure was off from $2.031 million in revenue generated during the second quarter.

EBITDA came in at $326,000, which is $204,000 softer than the year-ago period. During the second quarter, EBITDA was $383,000.

The company saw $298,000 in quarterly cash flow from operating activities. A year ago, it was $332,000 and during the second quarter it was $305,000.

“We remained cash flow positive and posted strong EBITDA. However, a large non-cash tax adjustment created a net loss after tax,” Marks shared. “Despite these items, the most important achievement is that Q3 FY2010 was our fifth consecutive cash flow positive quarter.”

Looking at key management metrics, there were eight XSELLERATOR installations in the third quarter, compared to nine in the second quarter and three a year ago.