Business
Advantex announces results for Q2 2007 and significant improvement in key performance indicators
Advantex announces results for Q2 2007 and significant improvement in key performance indicators.
About this update from Advantex Marketing International Inc.
[{"type":"text","content":"\n\n\n\nADX: TSX\n\n\nTORONTO, Feb. 14 /CNW/ - Advantex Marketing International Inc. (TSX:ADX)\ntoday reported results for the three and six months ended December 31, 2006.\nAll key performance indicators showed significant improvement year over year\nas follows:\n\n\n - Profit from continuing operations: $0.1 million for the quarter\n (see chart on Operating Results), an improvement of $0.4 million\n compared to corresponding period previous year, and $0.9 million\n improvement year-to-date\n\n - Operating Profit: $0.3 million for the quarter (see chart on\n Operating Results), an improvement of $0.4 million; $0.9 million\n improvement year-to-date\n\n - Gross Profit: up 36.0% to $ 2.2 million for the quarter; 29.2 %\n increase year-to-date\n\n - Net Revenue: up 31.5 % to $ 3.4 million for the quarter; 25.7 %\n increase year-to-date\n\n - Gross Revenue: up 29.6 % to $ 23.4 million for the quarter; 18.1 %\n increase year-to-date\n\n - Transaction Credits (assets deployed to merchants):\n up $2.2 million from June 30, 2006 to $6.1 million\n\nOn December 5, 2006, G. Randall Munger stepped down from his roles as\nChairman, Chief Executive Officer and director of the Company and Kelly E.\nAmbrose was appointed President and Chief Executive Officer.\n\"Q2 2007 was the first quarter in recent history in which we delivered an\noperating profit, a major accomplishment enabled by the growth of our Advance\nPurchase Marketing Programs,\" said Mr. Ambrose. \"It is very exciting to note\nthat we have an established pipeline of merchants waiting to receive funding\nand could quickly deploy several more million dollars into the market,\ngenerating an attractive rate of return.\"\n\nOperating Results\n\nThe following chart(x) has been included to provide a more useful\nanalysis to the reader.\n\n(In millions of dollars) Q2 YTD\n F 2007 F 2006 F 2007 F 2006\n ------ ------ ------ ------\nNet Revenue $ 3.4 $ 2.6 $ 5.7 $ 4.5\nDirect Expenses (1.3) (1.0) (2.0) (1.6)\n ----- ----- ----- -----\nGross Profit 2.2 1.6 3.7 2.9\nOngoing selling, general &\n administrative expenses (1.8) (1.7) (3.5) (3.6)\n ----- ----- ----- -----\nOperating Profit / (Loss) before\n restructuring 0.3 (0.1) 0.2 (0.7)\n --- ----- --- -----\n\nAmortization and Interest (0.3) (0.3) (0.5) (0.5)\n ----- ----- ----- -----\nProfit (Loss) before restructuring $ 0.1 $(0.4) $(0....