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 -
 Response(1)      801,197    717,633    11.6%  2,339,145  2,084,915    12.2%
Revenues from
 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%
 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
 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

 revenue)         796,566    621,123             796,566    621,123
 revenue        1,489,804  1,342,409           1,489,804  1,342,409
 liabilities    2,286,370  1,963,532           2,286,370  1,963,532
Bank and other
 debt               -nil-      -nil-               -nil-      -nil-
 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
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...