Advantex Reports Financial Results for the Second Quarter of Fiscal 2015
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 03/02/15 -- Advantex Marketing International Inc. (CSE: ADX), a specialist in marketing loyalty-reward programs, today reported a net loss of $144,079 for the three months ended December 31, 2014, compared with net income of $74,983 for the same period a year earlier.
Revenues for the latest quarter totaled $3,799,990, a drop of 17.6 per cent from a year earlier.
The net loss for the six months to December 31, 2014, was $124,273, compared with net income of $130,864 a year earlier. First-half revenues were $7,329,587, down 20 per cent from the first six months of fiscal 2014.
The decline in revenues and earnings is due largely to economic pressures and uncertainties facing many merchants, which resulted in lower participation in key Advantex programs.
"Our merchants have not been immune to sluggish business conditions throughout the Canadian economy," Kelly Ambrose, Advantex's president and CEO, said.
Mr Ambrose added: "We are responding vigorously to these challenges. We have adjusted our business model, and our financial situation has stabilized. We remain confident that our performance will improve over time, and that long-term prospects are bright."
Measures taken in recent months include:
"Our focus in the months ahead will be to cement the loyalty of our existing merchants, and to rebuild our merchant base," Mr. Ambrose said. "Our proprietary technology and long term contracts with CIBC, TD, Aeroplan and Caesars give us the tools to accomplish these goals. We have taken steps to enhance the competitiveness of the CIBC/TD program, and are in talks to identify new growth opportunities for the Aeroplan program."
Below is a summary of results for the three- and six-month periods ended December 31, 2014, comprising the second quarter (Q2) and first half (H1) respectively of the 2015 fiscal year.
(All currency amounts are in Canadian dollars.)
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: expectations of improvement in its performance and its long term prospects; belief that proprietary technology and long-term contracts give it the tools to rebuild its merchant base; 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 six months ended December 31, 2014.
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
Economic and Financial dependence (note 2)
Commitments and contingencies (note 12)
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: 02.03.2015 - 21:05 Uhr
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