Welcome!

Microsoft Cloud Authors: Liz McMillan, Pat Romanski, John Basso, Glenn Rossman, Elizabeth White

News Feed Item

Avante Logixx Inc. Announces Q3 Revenue Up 21% and Gross Profit Up 22%

TORONTO, ONTARIO -- (Marketwire) -- 02/01/13 -- 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 and nine month period ended December 31, 2012:


                                                  Quarter ended             
                                     ---------------------------------------
                                      Dec 31, 2012  Dec 31, 2011   Variance 
                                                                            
Total revenues                           1,711,785     1,418,498       20.7%
Revenues - Recurring Monitoring and                                         
 Response(1)                               717,633       645,696       11.1%
Revenues from other security services                                       
 and transport                             994,152       772,802       28.6%
Total gross profit                         580,880       477,259       21.7%
Adjusted EBITDA(2)                         112,530        (4,013)           
Net income (loss) before discontinued                                       
 operations                                 85,395       (46,495)           
Net income (loss) for the period            85,395       (46,495)           
Basic and diluted income (loss) per                                         
 share                                       0.002        (0.001)           
                                                                            
Total common shares outstanding         55,908,843    55,908,843            
Total assets                             1,841,902     1,771,611            
Total liabilities (excluding deferred                                       
 revenue)                                  621,124       633,304            
Deferred revenue                         1,342,408     1,251,900            
Total liabilities                        1,963,532     1,885,204            
Bank and other debt                          -nil-         -nil-            
                                                                            

                                             Nine month period ended        
                                     ---------------------------------------
                                      Dec 31, 2012  Dec 31, 2011   Variance 
                                                                            
Total revenues                           4,668,028     4,050,112       15.3%
Revenues - Recurring Monitoring and                                         
 Response(1)                             2,084,915     1,963,213        6.2%
Revenues from other security services                                       
 and transport                           2,583,113     2,086,900       23.8%
Total gross profit                       1,514,463     1,166,931       29.8%
Adjusted EBITDA(2)                         136,684      (361,775)           
Net income (loss) before discontinued                                       
 operations                                 75,536      (500,317)           
Net income (loss) for the period            75,536      (497,337)           
Basic and diluted income (loss) per                                         
 share                                       0.001        (0.009)           
                                                                            
Total common shares outstanding         55,908,843    55,908,843            
Total assets                             1,841,902     1,771,611            
Total liabilities (excluding deferred                                       
 revenue)                                  621,124       633,304            
Deferred revenue                         1,342,408     1,251,900            
Total liabilities                        1,963,532     1,885,204            
Bank and other debt                          -nil-         -nil-            

Co-CEOs Emmanuel Mounouchos and George Rossolatos announced Avante Logixx Inc.'s results for the quarter and nine month period ended December 31, 2012. The Company's financial performance continued to show marked improvement, with significant increases in revenues and gross profit, as well as continued profitability. Revenues for the quarter ended December 31, 2012 amounted to $1.71 million as compared to $1.42 million for the same quarter in the previous fiscal year, a net growth of 20.7%, while revenues for the nine month period registered a 15.3% increase to $4.67 million as compared to $4.05 million for the same period last year.

The Company has been focused on a return to profitability for the last 5 quarters by focusing on organic growth in the security market, while continuing to target cost and process efficiencies. The first three quarters indicate annualized growth rates of 11% to Avante's rapid alarm response customer base and 6.4% to its monitoring accounts base. While growing this segment, the Company continues to try to develop new security solutions to existing and new corporate customers. For example, Avante Intelligent Perimeter Protection ("AIPP") is Avante's latest offering, which comprises both Intrusion detection and Video Analytics, using a combination of algorithms to learn the environment is focused on, so as to detect and immediately alert the Response team of any intrusions into the camera view. This has helped Avante prevent intrusions even before they occur. Gross profit grew by 21.7% for the quarter and 29.8% for the nine month period, while Adjusted EBITDA for the quarter and the nine month period improved to $112,530 as compared to ($4,013) for the same period last year. The Company registered a profit of $85,395 for the quarter as compared to a loss of $46,495 in the same quarter last year, while net profit for the nine month period was $75,536 as compared to a net loss of $497,337 for the same period last year.

The company has no debt and effective working capital management has ensured that the Company has not had to utilize its operating line of credit in over 2 years. Management believes that there are significant opportunities for the Company to consolidate and further improve its market share, which would result in sustained profitability.

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.

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, and video analytics. The company continuously develops innovative products and applications within its core competencies. Please visit www.avantelogixx.com.

(1) Revenues - Recurring Monitoring and Response includes Alarm Response along with Digital, Analog and Video Monitoring services

(2) Adjusted EBITDA = Net income (loss) + Income tax + Depreciation / amortization + Shared based payments expense

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
ReadyTalk has expanded the capabilities of the FoxDen collaboration platform announced late last year to include FoxDen Connect, an in-room video collaboration experience that launches with a single touch. With FoxDen Connect, users can now not only engage in HD video conferencing between iOS and Android mobile devices or Chrome browsers, but also set up in-person meeting rooms for video interactions. A host’s mobile device automatically recognizes the presence of a meeting room via beacon tech...
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices 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 opportuni...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.