Business
Advantex Announces Fiscal 2009 Year-End Results
Advantex Announces Fiscal 2009 Year-End Results
About this update from Advantex Marketing International Inc.
[{"type":"text","content":"\n\n\n\nSep. 28, 2009 (Canada NewsWire Group) -- TORONTO, Sept. 28 /CNW/ -- Advantex Marketing International Inc. (TSX:ADX), a leading specialist in merchant funding and loyalty marketing programs, today announced its results for the fiscal fourth quarter and year ended June 30, 2009. All references to quarters or years are for the fiscal periods and all currency amounts are in Canadian dollars unless otherwise noted.2009 Overview-------------\"Advantex made very significant progress in 2009. Although we incurred a net loss for the year, in almost every other respect, we are proud of what we accomplished in a very challenging environment, building on the momentum that Advantex established in fiscal 2008,\" said Kelly Ambrose, Chief Executive Officer and President. \"We believe that the progress that Advantex has made during its past two fiscal years, together with a gradually recovering economy, are reasons to be cautiously optimistic that our financial and operating performance will improve further in fiscal 2010.\"Financial Performance - Highlights(millions of $s, except per share amounts)-------------------------------------------------------------------------Three Threemonths months Year YearEnded Ended Ended EndedJune 30, June 30, June 30, June 30,2009 2008 2009 2008-------------------------------------------------------------------------Revenue 3.2 3.0 12.2 11.5-------------------------------------------------------------------------Gross profit 2.1 2.0 8.0 7.2-------------------------------------------------------------------------Gross margin 65.9% 65.9% 65.7% 62.4%-------------------------------------------------------------------------Contribution from Operations 0.5 0.4 1.3 0.5-------------------------------------------------------------------------Profit/(Loss) before AmortizationAnd Interest 0.4 0.3 1.3 0.4-------------------------------------------------------------------------Amortization 0.1 0.2 0.3 0.4-------------------------------------------------------------------------Interest 0.5 0.4 1.8 1.4-------------------------------------------------------------------------Net (Loss) (0.1) (0.3) (0.9) (1.4)-------------------------------------------------------------------------Net (Loss) per common share ($0.00) ($0.00) ($0.01) ($0.01)----------------------------------------------------------------------------------...