Advantex Announces Fiscal 2016 First Quarter Results
EBITDA (1) of $464,372 after restructuring of previous two quarters
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/26/15 -- Advantex Marketing International Inc. (CSE: ADX), a specialist in marketing loyalty-reward programs, announced its results for the three months ended September 30, 2015.
The financial performance met the Company's expectation and it is on track for a gradual improvement in the financial results for Fiscal 2016.
"The restructuring of previous two quarters has given the Company the platform on which to re-build merchant participation in its programs and increase its revenues. Aligning operating costs to revenue levels will continue to be our focus. While the business model is proven and sound, the Company has limited resources, is operating in a weak economy and therefore it will take time to get back to profitability and realize the full potential of the business model", Kelly Ambrose, Advantex's President and CEO, said.
Highlights of Fiscal 2016 First Quarter results are set out in the table (2). Additional details are available in the Consolidated Financial Statements and the Management Discussion and Analysis available under the Company's profile on .
(1) 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, 2015, the EBITDA of $464,372 is equivalent to Earnings from operations before depreciation, amortization and interest per the statements of income (loss) and comprehensive income (loss) which is a part of the interim consolidated financial statements for the three months ended September 30, 2015.
(2) The tabulation is a non-GAAP presentation and is provided to assist readers in understanding the Company's financial performance. The Q1 Fiscal 2016 and Q1 Fiscal 2015 information is extracted from the statements of income (loss) and comprehensive income (loss) which is a part of the interim consolidated financial statements for the three months ended September 30, 2015. The Q4 Fiscal 2015 information is extracted from section Fourth Quarter of Fiscal 2015 (Q4 F 2015) vs. Fourth Quarter of Fiscal 2014 (Q4 F 2014) per the Management Discussion and Analysis for the Fiscal years ended June 30, 2015 and 2014. The Q3 Fiscal 2015 information is extracted from the statements of income (loss) and comprehensive income (loss) which is part of the interim consolidated financial statements for the three and nine months ended March 31, 2015.
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, Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Caesars Entertainment, we have contractual access to millions of consumers with above-average personal and household income. We also have partnerships with about 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 financial results during Fiscal 2016, expectations from the restructuring on its business; belief that its business model is sound; expectation of timing to get back to profitability; 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 those listed under "General Risks and Uncertainties" and "Economic Dependence" in Advantex's Management's Discussion and Analysis for the three months ended September 30, 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.
Economic and Financial dependence (note 2a), Going concern (note 2b), Commitments and contingencies (note 12)
The accompanying notes are an integral part of these consolidated financial statements.
Approved by the Board:
Director: William Polley
Director: Kelly E. Ambrose
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: 26.11.2015 - 21:41 Uhr
Sprache: Deutsch
News-ID 435959
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Advertising, PR and Marketing
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