Click here to close now.

Welcome!

.NET Authors: Pat Romanski, Elizabeth White, Liz McMillan, Jaynesh Shah, Carmen Gonzalez

News Feed Item

Alliance Distributors Holding Inc. Reports September 30, 2012 Financial Results

Also Reports Signing Publishing Agreements with Microsoft, Sony and Nintendo

NEW YORK, Nov. 29, 2012 /PRNewswire/ -- Alliance Distributors Holding Inc. (Pink Sheets: ADTR), a distributor of interactive video games and gaming products, today announced its financial results for its first quarter ended September 30, 2012.

Net sales for the first quarter in 2012 were $12.3 million, up 19% from the comparable 2011 period.  Net income for the first quarter in 2012 declined to $16,000 from $46,000 in the first quarter of 2011.  The decrease in net income reflects in part $125,000 in severance and related charges in connection with the previously announced outsourcing by the Company of its warehousing and fulfillment operations.

Jay Gelman, Chairman and Chief Executive Officer, said, "Year-over-year video game industry revenue continues to show a decline. We have been able to avoid significant downturns in our revenues by investing in value software and pursuing opportunities in key frontline software titles, and operations should increasingly benefit from the outsourcing we completed in the October. However, our results in the current quarter ending December 31, 2012 will be negatively impacted by business disruption from recent Hurricane Sandy.

"The first quarter also saw progress in our branching out into the publishing aspect of the video game business. Alliance Metaversal Studio LLC, our content development arm, signed publishing license agreements with Microsoft, Sony Computer Entertainment of America, and Nintendo of America. The addition of these rights to our iOS, Android, and Steam publishing rights gives Metaversal Studios platforms to publish offerings that may be made available to us from a wide variety of developers."

About Alliance Distributors Holding Inc.

Alliance Distributors Holding Inc. (www.alliancedistributors.com), which does business as Alliance Distributors, is a full-service wholesale videogame distributor, specializing in gaming products and accessories for all key manufacturers and 3rd party publishers. Alliance Distributors offers support on: PS3®, PlayStation®Vita, PSP®, PS2®, Xbox 360® video game and entertainment system from Microsoft, Wii U, Wii, 3DS and DS, peripherals and software titles. Alliance develops downloadable and social content video games through Metaversal Studios (www.metaversalstudios.com), which it wholly-owns.

Safe Harbor

Certain statements contained in this press release contain forward-looking statements including without limitation, statements concerning our operations, economic performance, and financial condition.  The words "estimate," "believe," "expect," "should" and "anticipate" and other similar expressions generally identify forward-looking statements, which speak only as of their dates.

Investors are cautioned that all forward-looking statements, which are based largely on our current expectations, involve risks and uncertainty. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including without limitation, risks associated with technological change, competitive factors and general economic conditions, including the related impact on discretionary consumer spending, changes in marketing and distribution strategies by manufacturers, continued shortages of new platform systems, timely development and release of video game products we produce, potential cost overruns in our development of video games, ability to protect our intellectual property rights, potential claims that we have infringed the intellectual property rights of others, market acceptance of games we develop, ability to realize anticipated benefits of acquisitions, potential undiscovered liabilities of companies that we acquire, changes in our business or growth strategy, the emergence of new or growing competitors, various other competitive and technological factors. There can be no assurance that the results referred to in the forward-looking statements contained in this release will occur. The Company has no duty and undertakes no obligation to update any forward-looking information, whether as a result of new information, future developments or otherwise.

Xbox, Xbox 360 and Xbox LIVE are either registered trademarks or trademarks of the Microsoft group of companies.

ALLIANCE DISTRIBUTORS HOLDING INC. AND SUBSIDIARIES

INCOME STATEMENTS

THREE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited; in thousands)





2012

2011




NET SALES

$12,264

$10,280




COST OF GOODS SOLD

10,527

8,761




GROSS PROFIT

1,737

1,519




OPERATING COSTS AND EXPENSES

1,539

1,347




INCOME FROM OPERATIONS BEFORE



  SPECIAL CHARGES

198

172




Special Charges – warehouse closure

125

-




INCOME FROM OPERATIONS

73

172




Interest expense

47

88




INCOME BEFORE PROVISION FOR INCOME TAXES

26

84




Provision for income taxes

10

38




NET INCOME

$    16

$    46







Net income per share:



   Basic and diluted

$      -

$      -




Weighted average common shares outstanding:






   Basic and diluted

44,157

44,157


 

ALLIANCE DISTRIBUTORS HOLDING INC. AND SUBSIDIARIES

CONDENSED BALANCE SHEETS

(Unaudited, in thousands)






September,

September,


2012

2011




ASSETS






CURRENT ASSETS:



  Cash and equivalents

$     351

$     362

  Accounts receivable-net

6,228

4,060

  Inventory

6,021

7,780

  Advances to suppliers

120

677

  Prepaid expenses and other current assets

197

155

  Deferred income taxes

308

268




                Total current assets

13,225

13,302




PROPERTY AND EQUIPMENT – NET

113

140




DEFERRED INCOME TAXES

215

230




OTHER ASSETS

98

77




TOTAL

$13,651

$13,749




LIABILITIES AND STOCKHOLDERS' EQUITY






CURRENT LIABILITIES:



  Asset-based revolving loan – bank

$ 2,423

$         -

  Notes payable – bank

-

5,388

  Current portion of long-term debt

500

-

  Accounts payable

4,746

3,795

  Accrued expenses and other current liabilities

422

299




                Total current liabilities

8,091

9,482




LONG-TERM DEBT

886

-




STOCKHOLDERS' EQUITY

4,674

4,267




TOTAL

$13,651

$13,749




COMMON SHARES OUTSTANDING

44,157

44,157

 

ALLIANCE DISTRIBUTORS HOLDING INC. AND SUBSIDIARIES

CONDENSED STATEMENTS OF CASH FLOWS

THREE MONTHS ENDED SEPTEMBER 30, 2012 AND 2011

(Unaudited, in thousands)





2012

2011

OPERATING ACTIVITIES:



    Net income

$      16

$      46

    Adjustments to reconcile net income to net cash provided by



        operating activities:



        Depreciation and amortization

17

24

        Deferred income taxes

(106)

-

        Other

6

20

        Changes in operating assets and liabilities-net

506

(506)




                Net cash provided by (used in) operating activities

439

(416)




INVESTING ACTIVITIES:



    Security deposit

(42)

-

    Purchase of property and equipment

(24)

(9)




               Net cash used in investing activities

(66)

(9)




FINANCING ACTIVITIES:



    Repayments of asset-based revolving loan – bank, net of proceeds

(489)

-

    Repayments of note payable, net of proceeds – bank

-

(201)

    Payment of long-term debt

(114)

-




                Net cash used in financing activities

(603)

(201)




DECREASE IN CASH AND EQUIVALENTS

(230)

(626)




CASH AND EQUIVALENTS, BEGINNING OF PERIOD

581

988




CASH AND EQUIVALENTS, END OF PERIOD

$  351

$  362

 

SOURCE Alliance Distributors Holding Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
Hadoop as a Service (as offered by handful of niche vendors now) is a cloud computing solution that makes medium and large-scale data processing accessible, easy, fast and inexpensive. In his session at Big Data Expo, Kumar Ramamurthy, Vice President and Chief Technologist, EIM & Big Data, at Virtusa, will discuss how this is achieved by eliminating the operational challenges of running Hadoop, so one can focus on business growth. The fragmented Hadoop distribution world and various PaaS solutions that provide a Hadoop flavor either make choices for customers very flexible in the name of opti...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT.
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers is very hard. You have to learn five new and different technologies and best practices (libswarm, sy...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data retrieval. They can easily adapt to new data sets and provide access to both structured and unstruc...
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.