Advantex Announces Fiscal 2016 Second Quarter Results
EBITDA (1) of $992,326 after restructuring of Fiscal year 2015
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/23/16 -- Advantex Marketing International Inc. (CSE: ADX), a specialist in marketing loyalty-reward programs, announced its results for the three and six months ended December 31, 2015.
The financial performance is in line with the Company's expectation.
After overcoming the structural and competitive challenges of Fiscal year 2015, the Company is reporting an improvement in its financial performance for the three months ended December 31, 2015. The Company is operating in a weak economy and given its difficult operating environment it is expecting continued improvement in financial performance during the next twelve months.
The Company is expecting to renew its partnerships with Affinity partners TD Bank and CIBC which are due for renewal in June and September 2016 respectively. The Company is also engaged in discussions respecting re-financing of debentures maturing September 2016.
Highlights of Fiscal 2016 Second 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 and six months ended December 31, 2015, the EBITDA of $992,326 is equivalent to Earnings from operations before depreciation, amortization and interest per the statements of (loss) and comprehensive (loss) which is a part of the interim consolidated financial statements for the three and six months ended December 31, 2015.
(2)The tabulation is a non-GAAP presentation and is provided to assist readers in understanding the Company's financial performance. The Q2 Fiscal 2016 information is extracted from the statements of (loss) and comprehensive (loss) which is a part of the interim consolidated financial statements for the three and six months ended December 31, 2015. The Q1 Fiscal 2016 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: expectation of continued improvement in financial performance during the next twelve months; expectation of renewal of its partnerships with TD Bank and CIBC; expectation from discussions respecting re-financing of debentures maturing September 2016; 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 and six months ended December 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.
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
Contacts:
Mukesh Sabharwal
Vice-President and Chief Financial Officer
905-470-9558 ext. 249
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Datum: 23.02.2016 - 21:00 Uhr
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News-ID 452751
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