Phonetime Inc. announced audited consolidated earnings results for the year ended December 31, 2011. For the year, the group reported net income and comprehensive income of $3.4 million, or $0.02 per basic and diluted share on revenue of $120,835,000 compared to a net loss and comprehensive loss of $2.5 million, or $0.02 per basic and diluted share, in 2010. The company attributes this improvement to the company's restructuring in 2010. EBITDA was $2.5 million compared to $0.3 million in 2010. The company reported income before income taxes and discontinued operations of $2.8 million compared to loss before income taxes and discontinued operations of $2.1 million, income before discontinued operations of $3.3 million or $0.02 per basic and diluted share compared to loss before discontinued operations of $2.2 million or $0.02 per basic and diluted share, cash provided by operating activities of $0.9 million compared to $3.4 million and purchase of property and equipment and intangible assets of $0.165 million compared to $0.153 million for the last year. The company expects EBITDA to grow by 25% in 2012.