Sponsored Links

Advant-E Corporation

News and Blogs

Total : 5 View more »

Advant-e Corporation Announces Second Quarter 2008 Results (PR Newswire)

biz.yahoo.com | Aug 14, 2008

Advant-e Corporation Announces Second Quarter 2008 Results. - DAYTON, Ohio, Aug. 14 /PRNewswire-FirstCall/ -- Advant-e Corporation (OTC Bulletin Board: AVEE - News), a provider of Internet-based Electronic Data Interchange and electronic document management software and services today announced

http://biz.yahoo.com/prnews/080814/clth028.html?.v=101

Tech firm posts record sales, profit for 2007

feeds.bizjournals.com | Mar 6, 2008

Advant-e, through its operating subsidiary Edict Systems Inc., links suppliers with companies through a variety of Web sites. The sites allow companies to conduct business transactions with each other electronically. The company has 36 Dayton-area employees.

http://feeds.bizjournals.com/~r/vertical_2/~3/246856363/daily26.html

EEProductCenter.com :: Press Release :: Advant-e Corporation Announces 2002 Financial Results

The 69% increase in revenues is attributed to a sharp increase in revenues from the company's web-EDI solutions, primarily www.GroceryEC.com , the company's first vertical industry portal ("Vortal") for suppliers and retailers in the grocery industry.

http://www.eeproductcenter.com/showPressRelease.jhtml?articleID=66136

Manufacturing Business Technology CommunityNewsLN 47314 10381

www.mbtmag.com

Manufacturing Business Technology is about the use of information technology and enterprise applications in plant operations, enterprise planning, and supply chain

http://www.mbtmag.com/CommunityNewsLN/47314.html?starting=10381

Web Sites

Total : 6 View more »

Advant-E (AVEE) News - Company News and Press Releases

Track Any Stock Instantly Just enter up to ten of your stocks in the Stock Tracker box, click the ADD button beside any of Today's Hot Stocks, or click ADD beside any of the stocks you've Recently Viewed.

http://www.investorguide.com/stock-news.cgi?ticker=AVEE

Advant-e - Company Overview - Hoover's

The US economy heavily influences business spending for software products. The success of programming companies depends heavily on strong technical expertise. The success of...

http://www.hoovers.com/advant-e/--ID__114964--/free-co-factsheet.xhtml

Advant-e sees 2Q earnings rise - Dayton Business Journal:

Advant-e (OTCBB: AVEE) said the increase is attributed to the growth of its web services and its electronic trading community connectivity and integration service.

http://stlouis.bizjournals.com/dayton/stories/2007/08/06/daily17.html?t=printable

Advant-e reports 1Q profit drop - Silicon Valley / San Jose Business Journal:

The electronic commerce company reported a first-quarter profit of $131,145, or 2 cents per diluted share, compared with $167,706, or 3 cents per diluted share, in the same quarter last year.

http://www.bizjournals.com/sanjose/othercities/dayton/stories/2007/05/14/daily4.html?b=1179115200^1462231

 

Advant-e Corporation Announces Second Quarter 2008 Results - Zibb.com

Advant-e Corporation (OTC Bulletin Board: AVEE), a provider of Internet-based Electronic Data Interchange and electronic document management software and services today announced financial and operating results for the quarter ending June 30, 2008.

For the second quarter of 2008 the Company reported revenues of $2,300,267, a 55% increase over revenues of $1,481,150 in the second quarter of 2007. The increase is attributable primarily to revenue from products and services sold by Merkur Group, Inc. which was acquired on July 2, 2007, and continued growth of the Company's internet-based EDI services.

Net income for the second quarter of 2008 was $279,625, or $.04 per share, a 16% increase over net income of $241,573, or $.04 per share, for the same period in 2007.

Jason K. Wadzinski, Chairman, Chief Executive Officer, and President, remarked, "We continue to make progress in our strategy of targeting additional vertical markets for our high value solutions and services. The Merkur Group acquisition continues to contribute to revenue accounting for 29% of our total revenue so far this year."

"In the near future we will be announcing several new and updated products and services that we believe will be well received by our targeted markets," continued Mr. Wadzinski. "However in the short-term, we believe our results for the remainder of 2008 may fall short of our internal goals due to general economic issues as well as delayed decisions by our targeted customers."

About Advant-e Corporation

Advant-e, via its wholly owned subsidiaries Edict Systems, Inc. and Merkur Group, Inc. is a provider of internet-based Electronic Data Interchange (EDI) and electronic document management software and services. The Company helps businesses automate manual, paper-intensive processes via expanded use of EDI or by integrating directly with ERP/MRP systems.

Additional information about Advant-e Corporation can be found at www.Advant-e.com, www.EdictSystems.com, and www.MerkurGroup.com, or by contacting investor relations at (937) 429-4288. The company's email is info@edictsystems.com.



                      ADVANT-E CORPORATION AND SUBSIDIARIES
             CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)

                                 Three Months Ended      Six Months Ended
                                     June 30,                June 30,
                                   2008       2007        2008       2007

    Revenue                   $2,300,267  1,481,150   4,645,501   2,897,473
    Cost of revenue              902,780    482,776   1,823,626     991,344

    Gross margin               1,397,487    998,374   2,821,875   1,906,129
    Marketing, general and
     administrative expenses     979,392    641,471   1,985,394   1,354,949

    Operating income             418,095    356,903     836,481     551,180
    Other income, net             18,407     32,587      23,611      55,255

    Income before income taxes   436,502    389,490     860,092     606,435
    Income tax expense           156,877    147,917     315,557     233,717

    Net income                  $279,625    241,573     544,535     372,718

    Basic and diluted earnings
     per share                      $.04        .04         .08         .06

    Weighted average shares
     outstanding               6,815,015  6,478,714   6,815,015   6,478,714



                      ADVANT-E CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED CONDENSED BALANCE SHEETS


                                                June 30, 2008    December 31,
                                                 (Unaudited)         2007
    Assets
    Current Assets:
        Cash and cash equivalents                 $2,536,240      2,039,447
        Short-term investments                       273,727        292,151
        Accounts receivable, net                     980,441        805,241
        Prepaid software maintenance costs           212,088        183,618
        Prepaid expenses and deposits                 44,705         68,930
        Deferred income taxes                        168,804         40,057

      Total current assets                         4,216,005      3,429,444

    Software development costs, net                  153,346        194,238
    Property and equipment, net                      420,758        433,658
    Goodwill                                       1,474,615      1,450,368
    Other intangible assets, net                     456,288        498,644

          Total assets                            $6,721,012      6,006,352

    Liabilities and Shareholders' Equity
    Current liabilities:
        Accounts payable                            $321,397        211,738
        Accrued salaries and other expenses          294,352        273,210
        Income taxes payable                          13,260        112,700
        Deferred revenue                             735,230        645,093

      Total current liabilities                    1,364,239      1,242,741

    Deferred income taxes                            337,485        288,858

          Total liabilities                        1,701,724      1,531,599

    Shareholders' equity:
      Common stock, $.001 par value; 20,000,000
       shares authorized; 6,815,015 shares
       issued and outstanding at June 30, 2008;
       6,875,015 shares issued and 6,815,015
       shares outstanding at December 31, 2007         6,815          6,875
      Paid-in capital                              2,135,260      2,210,200
      Retained earnings                            2,877,213      2,332,678
      Treasury stock at cost, 60,000 shares at
       December 31, 2007                                 ---        (75,000)

          Total shareholders' equity               5,019,288      4,474,753

          Total liabilities and shareholders'
           equity                                 $6,721,012      6,006,352



                      ADVANT-E CORPORATION AND SUBSIDIARIES
           CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)

                                                         Six Months Ended
                                                             June 30,

                                                          2008       2007

    Cash flows from operating activities:
      Net income                                       $544,535    372,718
      Adjustments to reconcile net income to
       net cash flows from operating activities:
        Depreciation                                    133,158    100,219
        Amortization of software development costs       40,892     27,854
        Amortization of other intangible assets          42,356          -
        Deferred income taxes                           (80,120)   (18,268)
        Purchases of trading securities                (146,993)  (107,507)
        Proceeds from sales of trading securities       162,965    125,968
        Net unrealized (gains) losses on trading
         securities                                      13,016     (6,376)
        Net realized gains on sales of securities       (10,564)   (13,377)
        Increase (decrease) in cash arising from
         changes in assets and liabilities:
          Accounts receivable                          (175,200)    45,446
          Prepaid software maintenance costs            (28,470)         -
          Prepaid expenses and deposits                  24,225     (4,419)
          Accounts payable                              109,659     (7,294)
          Accrued salaries and other expenses            21,142     19,653
          Income taxes payable                         (123,687)       424
          Deferred revenue                               90,137      3,270

          Net cash flows from operating activities      617,051    538,311

    Cash flows from investing activities:
      Purchases of property and equipment              (120,258)   (92,950)
      Software development costs                              -    (15,363)

          Net cash flows from investing activities     (120,258)  (108,313)

    Net increase in cash and cash equivalents           496,793    429,998
    Cash and cash equivalents, beginning of period    2,039,447  2,209,782

    Cash and cash equivalents, end of period         $2,536,240  2,639,780

    Supplemental disclosures of cash flow items:
      Income taxes paid                                $518,100    251,561
      Non-cash transaction
        Retirement of 60,000 shares repurchased
         in 2007 and held as treasury stock              75,000        ---



The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. Although the company believes that the expectations reflected on its forward looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties.

SOURCE Advant-e Corporation

http://www.advant-e.com

Read more...

Tags: accounting   ceo   earnings   edi   email   equity   internet   marketing   otc   president   product development   products   property   retirement   revenue   salaries   sales   securities   software   tax   taxes   treasury  

Companies: Advant-e Corp. (AVEE)

Permalink

 

News from Zibb.com

Explore Related Products

Explore in Related Industries

Jobs

1 more »