Avante Logixx Inc. Announces Results for the Quarter Ended June 30, 2014 and Signing of Binding Share Purchase Agreement to Acquire INTO-ELECTRONICS INC.

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[{"type":"text","content":"\n\nTrading symbols: TSX – XX.V, OTC - ALXXF\n\n\n\nTORONTO, July 21, 2014 /CNW/ - Avante Logixx Inc., (\"Avante\" or the \"Company\") through its wholly owned subsidiary, Avante Security Inc., provides best in class residential and commercial security services including system design and installation, rapid alarm response, alarm monitoring, video analytics and secure transport through the use of advanced technology and a focus on client service. \n\n\n\n\n\n\n\n\n\nResults for the Quarter Ended June 30, 2014\n\n\n\n\n\n\n\n\n\n\n\n\nQuarter ended\n\n\n\n\n\n\nJune 30, 2014\n\n\nJune 30, 2013\n\n\nVariance (%)\n\n\n\n\n\n\n\n\nTotal revenues\n\n\n$2,026,260\n\n\n$2,333,256\n\n\n(13.2%)\n\n\n\nRevenues - Recurring Monitoring and Response 1\n\n\n856,460\n\n\n762,080\n\n\n12.4%\n\n\n\nRevenues from other security services and transport\n\n\n1,169,800\n\n\n1,571,176\n\n\n(25.5%)\n\n\n\nTotal gross profit\n\n\n789,477\n\n\n930,857\n\n\n(15.2%)\n\n\n\nAdjusted EBITDA\n\n\n217,006\n\n\n439,898\n\n\n(50.7%)\n\n\n\nNet income (loss) for the period\n\n\n208,055\n\n\n430,191\n\n\n(51.6%)\n\n\n\nNet income (loss) per share - basic\n\n\n0.003\n\n\n0.008\n\n\n\n\nNet income (loss) per share - diluted\n\n\n0.003\n\n\n0.007\n\n\n\n\n\n\n\n\n\nTotal common shares outstanding\n\n\n71,638,843\n\n\n55,908,843\n\n\n\n\nTotal assets\n\n\n10,191,028\n\n\n2,954,384\n\n\n\n\nTotal liabilities\n\n\n2,525,733\n\n\n2,342,259\n\n\n\n\nTotal liabilities (excluding deferred revenue)\n\n\n936,386\n\n\n854,101\n\n\n\n\nDeferred revenue\n\n\n1,590,347\n\n\n1,488,158\n\n\n\n\nBank and other debt\n\n\n-nil-\n\n\n-nil-\n\n\n\n\nShareholders' equity\n\n\n7,664,295\n\n\n612,124\n\n\n\n\n\n\n\n\n\n \n\nCo-CEOs George Rossolatos and Emmanuel Mounouchos announced Avante Logixx Inc.'s results for the quarter ended June 30, 2014 (\"Q1-15\"). During the quarter, Avante generated revenues of $2,026,260, with an overall gross margin of $789,477 or 39.0%, and an Adjusted EBITDA of $217,006. Overall revenues decreased by approximately 13.2% for the quarter, due to a decrease in revenues from non-recurring security services, primarily driven by a softer quarter in international security travel advisory services. As indicated in earlier periods, other security services like International Security Travel Advisory services are not recurring in nature and depend on the ...

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