Welcome!

News Feed Item

Avante Logixx Inc. Announces Q3 Revenue up 32% and Gross Profit up 48%

TORONTO, ONTARIO -- (Marketwired) -- 01/17/14 -- Avante Logixx Inc. ("the Company") (TSX VENTURE: XX)(OTCBB: ALXXF), 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 ended December 31, 2013:


                       Quarter ended             Nine month period ended
              ------------------------------- ------------------------------
                   Dec 31,    Dec 31,             Dec 31,    Dec 31,
                     2013       2012 Variance       2013       2012 Variance

Total revenues $2,259,091 $1,711,785    32.0% $6,737,945 $4,668,028    44.3%
Revenues -
 Recurring
 Monitoring
 and
 Response(1)      801,197    717,633    11.6%  2,339,145  2,084,915    12.2%
Revenues from
 other
 security
 services and
 transport      1,457,894    994,152    46.6%  4,398,800  2,583,113    70.3%
Total gross
 profit           858,464    580,880    47.8%  2,606,692  1,514,463    72.1%
Adjusted
 EBITDA(2)        336,941    112,530           1,095,531    136,684
Net income
 (loss) for
 the period       279,149     85,395           1,017,851     75,536
Basic income
 (loss) per
 share              0.005      0.002               0.018      0.001
Diluted income
 (loss) per
 share              0.005      0.002               0.017      0.001

Total common
 shares
 outstanding   55,983,843 55,908,843          55,983,843 55,908,843
Total assets   $3,542,138 $1,841,902          $3,542,138 $1,841,902

Total
 liabilities
 (excluding
 deferred
 revenue)         796,566    621,123             796,566    621,123
Deferred
 revenue        1,489,804  1,342,409           1,489,804  1,342,409
Total
 liabilities    2,286,370  1,963,532           2,286,370  1,963,532
Bank and other
 debt               -nil-      -nil-               -nil-      -nil-
Shareholders'
 equity         1,255,768  (121,630)           1,255,768  (121,630)

(1) Revenues - Recurring Monitoring and Response includes Alarm Response
    along with Digital, Wireless and Video Monitoring services
(2) Adjusted EBITDA = Net income (loss) + Income tax + Depreciation /
    amortization + Shared based payments expense

Co-CEOs George Rossolatos and Emmanuel Mounouchos announced Avante Logixx Inc.'s results for the quarter ended December 31, 2013. The Company reported strong results driven by growth across all lines of business.

Net income for the quarter was $279,149 as compared to $85,395 for the same quarter in the prior fiscal year. Adjusted EBITDA for the quarter was $336,941 (December 31, 2012: $112,530). The Company continues to focus on organic growth in the Rapid Alarm Response, Security Monitoring and Installations segments, while developing new security solutions for residential and corporate customers. This was evidenced by growth of approximately 10% in both Alarm Response and Monitoring respectively. Overall growth in recurring security revenue has continued to trend over 10%.

The Avante Intelligent Perimeter Protection ("AIPP"), a recent offering, comprises both Intrusion Detection and Intelligent Video Analytics, using sophisticated software algorithms to study the environment the camera is focused on. When the camera detects an intrusion by an individual, the Avante Control Centre is instantly notified. Avante's response team acts on these alerts immediately, typically arriving at the scene within six minutes or less on average. The AIPP creates a perimeter 'bubble' around homes and businesses, detecting intruders before a break-in attempt occurs. The number of customers using this solution has grown by more than 150% as compared to December 31, 2012.

International Security Travel Advisory Services ("ISTAS") is another recent offering by Avante. With this offering, Avante is working with several multinational companies to ensure that their travelling employees have appropriate protection, transportation services and logistics while travelling to places which are considered to be higher risk environments. ISTAS has shown significant growth in the past year. Revenues from this offering were almost 175% as much as the quarter ended December 31, 2012. ISTAS revenue depends on the international activities of our clients during the period and is not recurring in nature.

Avante's prospects for the remainder of fiscal 2014 continue to be positive. The company's cash balance rose to over $1.5 million at December 31, 2013 with no debt. Management believes that there are significant opportunities for organic growth or for the Company to consolidate and further improve its market share, which would result in increased profitability.

Avante Logixx Inc. (TSX VENTURE: XX)(OTCBB: ALXXF) 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, intelligent video analytics and smart home automation. The company continuously develops innovative products and applications within its core competencies. Please visit www.avantelogixx.com.

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.

Please visit our newly updated websites at www.avantelogixx.com and www.avantesecurity.com and consider joining our investor email list.

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.

Latest Stories
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, 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 opportunity. Submit your speaking proposal ...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
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.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...