|By Marketwired .||
|February 1, 2013 10:26 AM EST||
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
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and ...
May. 31, 2016 09:15 AM EDT Reads: 885
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, 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...
May. 31, 2016 09:00 AM EDT Reads: 3,262
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 31, 2016 09:00 AM EDT Reads: 2,436
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 31, 2016 08:45 AM EDT Reads: 2,418
"What we see what happens when you have a completely networked society and the potential to now drive the value creation and the collaboration and the ecosystems that are possible when you start to be able to connect people and industries together in ways that have never been possible before," explained Esmeralda Swartz, VP of Marketing Enterprise & Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
May. 31, 2016 08:15 AM EDT Reads: 1,824
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
May. 31, 2016 08:00 AM EDT Reads: 2,346
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
May. 31, 2016 08:00 AM EDT Reads: 1,884
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
May. 31, 2016 07:45 AM EDT Reads: 1,829
The IoTs 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, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 31, 2016 06:00 AM EDT Reads: 2,035
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
May. 31, 2016 05:45 AM EDT Reads: 3,374
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. 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. For more information, please visit https://www.mangoapps.com/.
May. 31, 2016 05:45 AM EDT Reads: 1,212
SYS-CON Events announced today that IBM Cloud Data Services has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. IBM Cloud Data Services offers a portfolio of integrated, best-of-breed cloud data services for developers focused on mobile computing and analytics use cases.
May. 31, 2016 05:00 AM EDT Reads: 1,599
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
May. 31, 2016 05:00 AM EDT Reads: 3,375
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
May. 31, 2016 04:30 AM EDT Reads: 1,592
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
May. 31, 2016 04:15 AM EDT Reads: 3,078
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
May. 31, 2016 04:15 AM EDT Reads: 2,122
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 31, 2016 04:00 AM EDT Reads: 1,550
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 31, 2016 04:00 AM EDT Reads: 1,446
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 31, 2016 03:15 AM EDT Reads: 2,576
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
May. 31, 2016 01:30 AM EDT Reads: 1,478