Avante Logixx Inc., ("the Company") (TSX VENTURE:XX) through its wholly owned
subsidiary, Avante Security Inc., provides best in class residential and
commercial security services including system design and installation, rapid
alarm response, alarm monitoring and secure transport through the use of
advanced technology and a focus on client service. The Company is pleased to
announce its results for the quarter ended September 30, 2013:
Quarter ended Six month period ended
----------------------------------------------------------------
Sep 30, Sep 30, Sep 30, Sep 30,
2013 2012 Variance 2013 2012 Variance
Total
revenues $2,145,597 $1,465,324 46.4% $4,478,854 $2,956,242 51.5%
Revenues -
Recurring
Monitoring
and
Response(1) 775,868 601,468 12.3% 1,537,948 1,190,716 12.5%
Revenues
from other
security
services
and
transport 1,369,730 863,857 76.9% 2,940,906 1,765,526 85.1%
Total gross
profit 817,370 487,911 67.5% 1,748,228 933,582 87.3%
Adjusted
EBITDA(2) 318,692 33,236 758,590 24,154
Net income
(loss) for
the period 308,511 15,280 738,702 (9,860)
Basic income
(loss) per
share 0.006 0.000 0.013 0.000
Diluted
income
(loss) per
share 0.005 0.000 0.012 0.000
Total common
shares
outstanding 55,983,843 55,908,843 55,983,843 55,908,843
Total assets $3,222,883 $1,714,221 $3,222,883 $1,714,221
Total
liabilities
(excluding
deferred
revenue) 819,345 596,238 819,345 596,238
Deferred
revenue 1,475,085 1,339,986 1,475,085 1,339,986
Total
liabilities 2,294,429 1,936,224 2,294,429 1,936,224
Bank and
other debt -nil- -nil- -nil- -nil-
Shareholders'
equity 928,454 (222,003) 928,454 (222,003)
(1) Revenues - Recurring Monitoring and Response includes Alarm Response along
with Digital, Wireless and Video Monitoring services
(2) Adjusted EBITDA = Net income (loss) + Income tax + Depreciation /
amortization + Shared based payments expense
Co-CEOs George Rossolatos and Emmanuel Mounouchos announced Avante Logixx Inc.'s
results for the quarter ended September 30, 2013. The Company reported strong
results driven by growth across all lines of business.
Net income for the quarter was $308,511 as compared to $15,280 for the same
quarter in the prior fiscal year. Adjusted EBITDA for the quarter was $318,692
(September 30, 2012: $33,236). The Company continues to focus on organic growth
in the Rapid Alarm Response, Security Monitoring and Installations segments,
while developing new security solutions for residential and corporate customers.
This was evidenced by a 10% growth in the number of customers who subscribed to
Alarm Response and Monitoring respectively. Overall growth in recurring security
revenue remains strong and steady.
The Avante Intelligent Perimeter Protection ("AIPP"), a recent offering,
comprises both Intrusion Detection and Intelligent Video Analytics, using
sophisticated software algorithms to study the environment the camera is focused
on. When the camera detects an intrusion by an individual, the Avante Control
Centre is instantly notified. Avante's response team acts on these alerts
immediately, typically arriving at the scene within six minutes or less on
average. The AIPP creates a perimeter 'bubble' around homes and businesses,
detecting intruders before a break-in attempt occurs. The number of customers
using this solution has tripled as compared to September 30, 2012.
International Security Travel Advisory Services ("ISTAS") is another recent
offering by Avante. The Company is working with several multinational companies
in ensuring that their travelling employees have appropriate protection,
transportation services and logistics while travelling to higher risk
environments. ISTAS has shown significant growth in the past year. Revenues from
this offering were almost twice as much as the quarter ended September 30, 2012.
ISTAS revenue depends on the international activities of our clients during the
period and is not recurring in nature.
Avante's prospects for the remainder of fiscal 2014 continue to be positive. The
company's cash balance rose to over $1.4 million at September 30, 2013 with no
debt. Management believes that there are significant opportunities for organic
growth or for the Company to consolidate and further improve its market share,
which would result in increased profitability.
Avante Logixx Inc. (TSX VENTURE:XX) is a Toronto based security and technology
company. Its primary operating division, Avante Security Inc.
(www.avantesecurity.com), provides best in class security response and other
security services for residential and commercial applications as well as being
an industry leader in designing and installing complex security systems, access
control, intelligent video analytics and smart home automation. The company
continuously develops innovative products and applications within its core
competencies. Please visit www.avantelogixx.com.
Forward-looking information: The information set forth in the Company's MD&A and
this press release to readers may contain statements concerning Avante's future
results, future performance, intentions, objectives, plans and expectations that
are, or may be deemed to be, forward-looking statements or information within
the meaning of securities laws. In some cases, forward-looking information can
be identified by the use of terms such as "may", "will", "should", "expect",
"plan", "anticipate", "believe", "intend", "estimate", "predict", "potential",
"continue" or other similar expressions concerning matters that are not
historical facts. Forward-looking statements are not guarantees of future
performance.
These forward-looking statements are based on current expectations that involve
numerous risks and uncertainties, including, but not limited to, those
identified in the Risks Factors section of the Filing Statement the Company
filed with regulatory authorities on February 28, 2008. Assumptions relating to
the foregoing involve judgments with respect to, among other things, future
economic, competitive and market conditions and future business decisions, all
of which are difficult or impossible to predict accurately and many of which are
beyond Avante's control. Although Avante believes that the assumptions
underlying the forward-looking statements are reasonable, any of the assumptions
could prove inaccurate. These factors should be considered carefully, and
readers should not place undue reliance on forward-looking statements. Avante
has no intention and undertakes no obligation to update or revise any
forward-looking statements, whether written or oral that may be made by or on
the Company's behalf.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avante Logixx Inc.
George Rossolatos
Co-CEO
(416) 923-6984 x221
george@avantelogixx.com
Avante Logixx Inc.
Leland Verner
Chairman
(416) 823-7474
leland@avantelogixx.com
www.avantelogixx.com
Avante (TSXV:XX)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Avante (TSXV:XX)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
