Business
Advantex Announces Fiscal 2008 Year-End Results
- Company achieves positive Contribution from Operations and Profit before Amortization and Inter...
About this update from Advantex Marketing International Inc.
[{"type":"text","content":"\n\n\n\n- Company achieves positive Contribution from Operations and Profit\n before Amortization and Interest in fourth quarter and for the year,\n compared with losses in 2007 periods\n- Progress in 2008 indicates continuing improvement in 2009 and future\n "looks increasingly bright"\n- Continues to expand Advance Purchase Marketing benefit program under\n its established credit facility\n- Conference call and webcast on Friday, September 26 at 8:30 a.m.\n (eastern)\n\nADX: TSX\n\n\nTORONTO, Sept. 25 /CNW/ - Advantex Marketing International Inc.\n(TSX:ADX), a leading specialist in merchant funding and loyalty marketing\nprograms, today announced its results for the fiscal fourth quarter and year\nended June 30, 2008. All references to quarters or years are for the fiscal\nperiods and all currency amounts are in Canadian dollars unless otherwise\nnoted.\n\n\n"Advantex is evolving into a stronger, more competitive company, with a\nclear focus on profitable growth as a leader in the marketing services\nindustry," said Kelly E. Ambrose, President and Chief Executive Officer. "We\nmade great progress on this path in 2008 as the fourth-quarter results\nconfirmed. In the fourth quarter, the company achieved a positive Contribution\nfrom Operations and Profit before Amortization and Interest, and the\nturnaround from the same period in the prior year was significant. We were\nable to achieve these improvements by building on the initiatives that we\nsuccessfully implemented in fiscal 2007."\n\n\nFinancial Performance - Highlights\n(millions of $s, except per share amounts)\n-------------------------------------------------------------------------\n Three Three\n months months Year Year\n Ended Ended Ended Ended\n June 30, June 30, June 30, June 30,\n 2008 2007 2008 2007\n-------------------------------------------------------------------------\nRevenue 3.0 3.0 11.5 11.3\n-------------------------------------------------------------------------\nGross profit 2.0 1.5 7.2 7.1\n-------------------------------------------------------------------------\nGross margin 65.9% 50.5% 62.5% 62.5%\n-------------------------------------------------------------------------\nContribution from Operations 0.4 (0.5) 0.5 (0.2)\n-------------------------------------------------------------------------\nProfit/(loss) before Am...