Advantex Announces Results for the Three and Nine Months ended March 31, 2013
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/29/13 -- Advantex Marketing International Inc. (CNSX: ADX) ("Advantex" or the "Company"), a leading specialist in merchant funding and loyalty marketing programs, today announced its results for the three and nine months ended March 31, 2013. All currency amounts are in Canadian dollars unless otherwise noted.
"We achieved a significant increase in merchant count in our programs during the three and nine months ended March 31, 2013. This is an encouraging indication of the value proposition of our services for small independent merchants. But the difficult economy is a critical factor for the merchants participating in our programs, and this is reflected in our results for the three and nine months ended March 31, 2013. We earn revenues as consumers using designated credit cards complete purchases at participating merchants. Our same store analysis indicates sharp year over year declines in consumer spending. Consequently, while our overall revenues are ahead of corresponding periods in the previous year they are not what we expected to see. The secondary fallout of this challenging economic environment is the increase in reserves to cover higher delinquencies we experienced because merchants are under financial strain. The positive is our proven ability to grow merchant participation and this is the antidote to the prevailing economic conditions," said Kelly Ambrose, Advantex President and Chief Executive Officer.
"We wanted to increase our presence in the small and medium sized enterprises loyalty marketing space. The acquisition of Futura Loyalty Group Inc.'s Aeroplan Canada Inc. ("Aeroplan") channel marketing assets at end of January 2013 has augmented our merchant portfolio, and gives us access to new business segments to market our programs. The results for three and nine months ended March 31, 2013 reflect revenues from this activity," said Mr. Ambrose.
The Company's agreements with its affinity partners - Canadian Imperial Bank of Commerce ("CIBC'), and Aeroplan - and its financial partners - 14% and 12% debenture holders, and provider of loan payable - come up for renewal between August and December, 2013. The Company expects to successfully negotiate renewal of the agreements.
Financial Highlights:
(i) EBITDA is a non-GAAP financial measure which does not have any standardized meaning prescribed by the issuer's GAAP and is unlikely to be comparable to similar measures presented by other issuers. It is provided as additional information to assist readers in understanding a component of the Company's financial performance. In case of the Company per consolidated financial statements for three and nine months ended March 31, 2013, earnings from operations before amortization and interest is the nearest equivalent to EBITDA.
About Advantex Marketing International Inc.
Advantex is a specialist in the marketing services industry. Advantex partners with CIBC, and Aeroplan. On a combined basis, Advantex has contractual marketing access to more than five million Canadian consumers with above-average personal and household income. The Company's merchant partner base currently consists of about 2,000 merchants operating restaurants; golf courses; independent inns, resorts and selected hotels; spas; retailers of men's and ladies fashion, footwear and accessories; retailers of sporting goods; florists and garden centres; book and newspaper stores; health and beauty centres; dry cleaners; gift stores; home decor; automotive dealers, service centers; and tire dealerships; many of which are leaders in their respective categories. Advantex is traded on the Canadian National Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit .
Forward-Looking Information
This Press Release contains certain "forward-looking information". All information, other than information comprised of historical fact, that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitutes forward-looking information. Forward-looking information is typically identified by words such as: anticipate, believe, expect, goal, intend, plan, will, may, should, could and other similar expressions. Such forward-looking information relates to, without limitation, information regarding the Company's expectation that it will successfully negotiate renewal of its agreements with its affinity and financial partners; and other information regarding financial and business prospects and financial outlook is forward-looking information.
Forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company.
Forward-looking information is subject to a number of risks, uncertainties and assumptions that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include those listed under "General Risks and Uncertainties" and "Economic Dependence" in Management's Discussion and Analysis for the three and nine month periods ended March 31, 2013.
All forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Advantex Marketing International Inc.
Consolidated Statements of Financial Position - (unaudited)
(expressed in Canadian dollars)
Economic and Financial dependence (note 2a), and Going concern (note 2b)
Commitments and Contingencies (note 14)
The accompanying notes are an integral part of these consolidated financial statements.
Approved by the Board:
Director: Signed "William Polley" Director: Signed "Kelly Ambrose"
William Polley Kelly E. Ambrose
Advantex Marketing International Inc.
Consolidated Statements of Income / (Loss) and Comprehensive Income / (Loss)
For the three and nine months ended March 31, 2013 and March 31, 2012 - (unaudited)
(expressed in Canadian dollars)
The accompanying notes are an integral part of these consolidated financial statements.
Advantex Marketing International Inc.
Consolidated Statements of Changes in Deficiency
For the nine months ended March 31, 2013 and March 31, 2012 - (unaudited)
(expressed in Canadian dollars)
The accompanying notes are an integral part of these consolidated financial statements.
Advantex Marketing International Inc.
Consolidated Statements of Cash Flow
For the nine months ended March 31, 2013 and March 31, 2012 - (unaudited)
(expressed in Canadian dollars)
Contacts:
Advantex Marketing International Inc.
Kelly Ambrose
President and Chief Executive Officer
905-470-9558 ext. 280
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 29.05.2013 - 14:30 Uhr
Sprache: Deutsch
News-ID 1231855
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
TORONTO, ONTARIO
Phone:
Kategorie:
Advertising, PR and Marketing
Anmerkungen:
Diese Pressemitteilung wurde bisher 250 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Advantex Announces Results for the Three and Nine Months ended March 31, 2013
"
steht unter der journalistisch-redaktionellen Verantwortung von
Advantex Marketing International Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
