Business
Advantex Announces Fiscal 2009 Second Quarter Results
- Advantex reports Net Profit for second consecutive quarter. - 2009 second quarter: - Net Profit...
About this update from Advantex Marketing International Inc.
[{"type":"text","content":"\n\n\n\n- Advantex reports Net Profit for second consecutive quarter.\n\n- 2009 second quarter:\n - Net Profit, improves $350,000 vs. 2008 second quarter\n - Profit before non-cash items, improves $406,000 vs. 2008 second\n quarter.\n\n- Success of Advance Purchase Marketing ("APM") program driving revenue\n gain. 2009 second quarter APM revenues up 31.5% vs. 2008 second\n quarter.\n\nADX: TSX\n\n-------------------------------------------------------------------------\n\n\nTORONTO, Jan. 27 /CNW/ - Advantex Marketing International Inc. (TSX:ADX),\na leading specialist in loyalty marketing programs and merchant funding, today\nannounced its results for the fiscal second quarter ended December 31, 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 second consecutive quarter of net profit and positive cash flow from\noperations generated by Advantex in 2009 are significant milestones given the\ncurrent market conditions," Mr. Ambrose said.\n\n\n"These improved financial results are attributable to the initiatives\nthat we have implemented during the past 30 plus months, including the growth\nof our APM program, improved operational efficiencies, and cost reductions,\n"Mr. Ambrose said.\n\n\n"We are in a period of unprecedented decline and negative sentiment in\nstock markets. The management is of the opinion that Advantex's share price\ndoes not reflect the improved financial performance," he said.\n\n\nThe highlights of the financial performance are illustrated in the\nfollowing table:\n\n\n-------------------------------------------------------------------------\n INC/ INC/\n Q2 F09 Q2 F08 (DEC) YTD F09 YTD F08 (DEC)\n-------------------------------------------------------------------------\nRevenues $ 3.34 m $ 3.24 m 3.3 % $ 6.45 m $ 6.08 m 6.1 %\n-------------------------------------------------------------------------\n\n-------------------------------------------------------------------------\nGross\n Profit $ 2.21 m $ 1.80 m 23.0% $ 4.34 m $ 3.49 m 24.3 %\n-------------------------------------------------------------------------\n\n-------------------------------------------------------------------------\nContribution\n from\nOperations $523,351 $ 27,641 $495,710 $1,103,141 $ (17,360)...