Advantex Reports Financial Results for the Third Quarter of Fiscal 2015
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/29/15 -- Advantex Marketing International Inc. (CSE: ADX), a specialist in loyalty marketing programs, today reported a net loss of $2,582,155 for the three months ended March 31, 2015, compared with net loss of $396,066 for the same period a year earlier.
"Our three month results reflect structural and one-time adjustments across the spectrum of our business. The merchant base of our core program, CIBC/TD, stabilized at 839 at the end of March and has been growing since then, most recently hitting 872," Kelly Ambrose, Advantex''s president and CEO, said.
The main factors affecting the three month financial results were:
For three months, revenues declined 25% and gross profit prior to expense for delinquencies declined 22%. For nine months, revenues declined 21% and gross profit prior to expense for delinquencies declined 17%. Interest for current year three and nine months is lower and reflects lesser utilization of loan payable. Utilization of loan payable was lower reflecting the decline in the merchant base participating in the CIBC/TD program APM product.
Mr. Ambrose added: "We have adjusted our business model and our financial situation has stabilized. We remain confident that our performance will improve over time."
About Advantex:
Advantex provides specialized marketing programs that enable members of affinity groups to earn frequent-flyer miles and other loyalty rewards through purchases at participating merchants.
Through our partnerships with Aeroplan, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank and Caesars Entertainment, we have contractual access to millions of consumers with above-average personal and household income. We also have partnerships with more than 1,600 merchants in Canada and the US.
Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information, go to .
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 Advantex 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 Advantex''s: belief in its ability to retain and expand its core program merchant base; expectation that it has adequate due diligence processes to manage merchant advances; and other information regarding Advantex''s financial and business prospects and financial outlook is forward-looking information.
Forward-looking information reflects the current expectations or beliefs of Advantex based on information currently available to Advantex.
Forward-looking information is subject to a number of risks, uncertainties and assumptions that may cause the actual results of Advantex 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 Advantex. Factors that could cause actual results or events to differ materially from current expectations include, among other things, those listed under General Risks and Uncertainties and Economic Dependence in the Management Discussion and Analysis for the three and nine months ended March 31, 2015.
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, Advantex 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 Advantex 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
Contacts:
Advantex Marketing International Inc.
Mukesh Sabharwal
Vice-President and Chief Financial Officer
905-470-9558 ext. 249
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Datum: 29.05.2015 - 15:15 Uhr
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