Business
Advantex Announces Fiscal 2009 First-Quarter Results
- Advantex achieves growth in revenue, positive operating cash flow, and net earnings compared wi...
About this update from Advantex Marketing International Inc.
[{"type":"text","content":"\n\n\n\n- Advantex achieves growth in revenue, positive operating cash flow,\n and net earnings compared with 2008 quarter\n- Company succeeds in reducing expenses and achieving operating\n efficiencies greater than revenue growth\n- Success of Advance Purchase Marketing benefit program driving revenue\n gain\n- Conference call and webcast on Friday, October 24 at 8:30 a.m.\n (eastern)\n\nADX: TSX\n\n\nTORONTO, Oct. 23 /CNW/ - Advantex Marketing International Inc. (TSX:ADX),\na leading specialist in merchant funding and loyalty marketing programs, today\nannounced its results for the fiscal first quarter ended September 30, 2008.\nAll references to quarters or years are for the fiscal periods and all\ncurrency amounts are in Canadian dollars unless otherwise noted.\n\n\n"The positive trends in our business that we noted at the end of our\nfiscal 2008 continued through the 2009 first quarter. As the result, we\naccomplished an impressive turnaround in our financial performance compared\nwith the quarter a year ago, recording increased revenue, positive operating\ncash flow, a contribution from operations, compared with a loss in the 2008\nquarter, and a net profit, compared with a net loss in the 2008 quarter," said\nKelly E. Ambrose, President and Chief Executive Officer.\n\n\n"These improved financial results are attributable to the initiatives\nthat we have implemented during the past 30 months or so, including the growth\nof our Advance Purchase Marketing (APM) program, improved operational\nefficiencies, and cost reductions. We are hopeful that we can maintain our\nmomentum and these positive trends despite the considerable uncertainty and\nturbulence affecting the Canadian and international economies," Mr. Ambrose\nsaid.\n\n\nFinancial Performance - Highlights\n(millions of $s, except per share amounts)\n-------------------------------------------------------------------------\n Three months Three months\n Ended Ended\n Sept. 30, Sept. 30,\n 2008 2007\n-------------------------------------------------------------------------\nRevenue 3.1 2.8\n-------------------------------------------------------------------------\nGross profit 2.1 1.7\n-------------------------------------------------------------------------\nGross margin 68.4% 59.5%\n--------------------------------------------------------------------...