Advantex Announces Net Income for Three Months Ended September 30, 2013
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/21/13 -- Advantex Marketing International Inc. (CNSX: ADX) ("Advantex" or the "Company"), a leading specialist in the marketing services industry, today announced its results for three months ended September 30, 2013. All currency amounts are in Canadian dollars unless otherwise noted.
"Advantex is pleased to report a profit in a rapidly changing business environment. We responded to the news of significant movements in our partner, Canadian Imperial Bank of Commerce ("CIBC") and Aimia Inc. ("Aimia"), worlds by investing in the value proposition of our programs in order to maintain stability with our merchants. While the pace of bringing new merchants into our programs has been slowed because of these changes, I am pleased to report stability with our current customers and profitability for the quarter," said Kelly Ambrose, Advantex President and Chief Executive Officer.
Advantex has many of the building blocks for its future in place, namely a multi-year agreement through September 2016 with CIBC, and the renewal of our line of credit facility with Accord Financial Inc., until December 2014, to support the continued growth of our Advance Purchase Marketing program. In October, Advantex signed a term sheet to refinance the existing debentures and expects to close the transaction in December. Negotiations are continuing with our partner Aimia for a multi-year renewal.
"We are actively exploring new revenue opportunities in Canada and the US, and I will report our progress in future quarters. I remain cautiously optimistic of Advantex's future prospects," said Mr. Ambrose.
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, for three months ended September 30, 2013 and 2012, per consolidated financial statements for three months ended September 30, 2013, earnings from operations before depreciation, 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 Canada Inc. (subsidiary of Aimia). On a combined basis, Advantex has contractual marketing access to about five million Canadian consumers with above-average personal and household income. Advantex's merchant partner base currently consists of about 2,000 merchants operating in several business segments: 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: belief that it has building blocks for its future in place; expectation of refinancing debentures on the terms set out in the term sheet and the timing of the refinancing; expectation of securing a multi-year renewal of its agreement with Aimia; expectation of its future prospects; 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 months ended September 30, 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.
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.
Mukesh Sabharwal
Vice-President and Chief Financial Officer
905-470-9558 ext. 249
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Datum: 21.11.2013 - 21:30 Uhr
Sprache: Deutsch
News-ID 319377
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TORONTO, ONTARIO
Kategorie:
Advertising, PR and Marketing
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