Welcome!

Microsoft Cloud Authors: Pat Romanski, Lori MacVittie, Andreas Grabner, Jim Kaskade, John Basso

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
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
20th Cloud Expo, taking place June 6-8, 2017, 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.
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. 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 June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...