Advantex Announces Net Income
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 02/27/13 -- 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 six months ended December 31, 2012. All currency amounts are in Canadian dollars unless otherwise noted.
"We are pleased to report a net income under difficult economic conditions more severe than we have seen in sometime thereby affecting consumer spending. In addition, the NHL strike was also another factor that negatively affected the restaurant sector. Over half of merchants participating in our programs operate restaurants. This is reflected in our results. While revenues were ahead of corresponding periods previous year they were not what we expected, and this affected our profitability, said Kelly Ambrose, Advantex President and Chief Executive Officer.
I am excited by the recent acquisition which added about 700 merchants to our portfolio. This gives us an opportunity to expand the program as a re-seller of aeroplan miles across the small merchant market, and in time has the potential to strengthen the Company's relationship with Aeroplan and add to the Company's profitability," said Mr. Ambrose.
Financial Highlights:
"The Company's agreements with its affinity partners - Canadian Imperial Bank of Commerce ("CIBC"), and Aeroplan Canada Inc. ("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 and/or extension of the agreements," said Mr. Ambrose.
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 just under 1,300 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; and home decor; 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 respecting the impact of the acquisition on its relationship with Aeroplan, and its profitability; expectation with regards to the renewal, including the timing and the terms of such 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 six month periods ended December 31, 2012.
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.
Economic and Financial dependence (note 2)
Commitments and Contingencies (note 14)
The accompanying notes are an integral part of these consolidated financial statements.
Approved by the Board:
The accompanying notes are an integral part of these consolidated financial statements.
The accompanying notes are an integral part of these consolidated financial statements.
The accompanying notes are an integral part of these consolidated financial statements.
Contacts:
Advantex Marketing International Inc.
Kelly Ambrose
President and Chief Executive Officer
905-470-9558 ext. 280
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.02.2013 - 22:00 Uhr
Sprache: Deutsch
News-ID 234179
Anzahl Zeichen: 5012
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Advertising, PR and Marketing
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