ADVANTEX ANNOUNCES FISCAL 2008 Q1 RESULTS
11/14/2007 12:00:00 AM
Toronto, November 14, 2007 - Advantex Marketing International Inc. (TSX:ADX), a leading specialist in merchant funding and loyalty marketing programs, today announced its results for the three months ended September 30, 2007.
“Our achievements this quarter will establish a base for future expansion.” said Kelly E. Ambrose, Advantex’s Chief Executive Officer and President.
A conference call will be held for analysts and investors at 4.30 pm EST, on Tuesday, November 27, 2007. Details are available at the end of this News Release.
Financial Performance - Highlights
The improvement of $0.1 million at the operating level was offset by increase in interest cost of $0.1 million, which arose from the increased debt levels and the associated carrying costs. Consequently the Net Loss for the current quarter at $0.4 million was unchanged from the corresponding period previous year.
The Company is operating close to break even at the contribution from operations level, and it continues to evolve into a stronger and more competitive company, with a clear focus on profitable growth in the programs and areas in which it enjoys a leadership position.
The Company is experiencing strong demand for its Advance Purchase Marketing Program and has a backlog of merchants wishing to join this program.
About Advantex Marketing International Inc.
Advantex is a specialist in the marketing services industry, managing white-labelled rewards accelerator programs for major affinity groups through which their members earn bonus frequent flyer miles and/or other rewards on purchases at participating merchants. Under the umbrella of each program, Advantex provides merchants with marketing, customer incentives, and secured future sales through its Advance Purchase Marketing model. Advantex partners include more than 700 restaurants, online retailers, golf courses, small inns and resorts, and major organizations including CIBC, United Airlines, Delta Air Lines, Alaska Airlines and Lufthansa Airlines. Advantex is a public company, traded on the Toronto Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding financial and business prospects and financial outlook) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in general economic and market conditions, changes to regulations affecting the Company's activities , uncertainties relating to the availability and costs of financing needed in the future, and delays in finalizing retail contract. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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For further information please contact:
Analyst / Investor Conference Call
Analysts and investors are invited to participate in a conference call at 4.30 pm EST, on Tuesday, November 27, 2007 with Mr. Kelly E. Ambrose, Advantex Chief Executive Officer and President.
To participate in the conference call, please call 1-800-926-6198. A recording of the call will be available until December 4, 2007 at 416-626-4100 or 1-800-558-5253, Reservation #21356590.