News Feed Item
AVANTE LOGIXX INC. Announces Results for the Year Ended March 31, 2014
|By Marketwired .
|July 2, 2014 11:36 AM EDT
TORONTO, ONTARIO -- (Marketwired) -- 07/02/14 -- 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, video analytics 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 year ended March 31, 2014:
March 31-14 March 31-13 Variance (%)
Total revenues $8,938,669 $6,746,439 32.5%
Revenues - Recurring
Monitoring and Response (1) 3,168,228 2,831,277 11.9%
Revenues from other security
services and transport 5,770,440 3,915,162 47.4%
Total gross profit 3,577,636 2,341,929 52.8%
Adjusted EBITDA(2) 1,483,864 452,344 228.0%
Net income (loss) for the
period 2,779,623 370,818 649.5%
Basic income per share 0.049 0.007
Diluted income per share 0.048 0.006
Total common shares
outstanding 71,638,843 55,908,843
Total assets 10,196,177 2,225,357
Total liabilities 2,685,255 2,043,742
Total liabilities (excluding
deferred revenue) 1,100,002 638,801
Deferred revenue 1,585,252 1,404,941
Bank and other debt -nil- -nil-
Shareholders' equity 7,510,922 181,615
Co-CEOs George Rossolatos and Emmanuel Mounouchos announced Avante Logixx Inc.'s results for the year ended March 31, 2014. The Company achieved significant growth in revenues, gross profit and net income. While revenues grew by 32.5% for the fiscal year ended March 31, 2014 as compared to the prior year, gross profit grew by 52.8%. Revenue growth was attributable to increased sales of rapid alarm response and intelligent perimeter protection video analytics services as well as a significant contribution from international security travel advisory services during the year. The growth in gross profit was on account of higher revenues and favourable labour cost variances.
Net income for the year was $2,779,453 as compared to $370,818 for fiscal year 2013, an increase of $2,408,635. This increase included net deferred tax recovery of $1,386,990 with the balance attributable to profit from operations for the year. Adjusted EBITDA for the year was $1,483,864 (FY 2013: $452,344) reflecting a strong and steady performance throughout the year. The Company will focus on growing all of its revenue streams in the coming year, while targeting strategic acquisitions that will enhance the company's offerings.
The Company's customer base increased by more than 10% with respect to number of Response and Monitored clients, as compared to fiscal year 2013. It is also developing new value-add security solutions to residential and corporate customers.
(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 + Share based payments expense
Cash flow from operations for the year was $1,825,367 as compared to $326,996 for the previous fiscal year. Also, the Company's cash flow from investing activities increased primarily due to a $5 million capital raise (before share issue costs) in March 2014 through a private placement co-underwritten by Cormark Securities Inc. and Mackie Research Capital Corporation. Avante plans to make investments in infrastructure, sales and the launch of its first branding campaign in fiscal 2015 to further build organic growth rates over time.
Avante's prospects for fiscal 2015 continue to be positive. The Company continues to strengthen its balance sheet which is free of debt, while pursuing new opportunities to consolidate and further improve its market share, which would result in increased profitability, while delivering maximum value to its shareholders.
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
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.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises.
The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 30, 2016 11:30 PM EDT Reads: 748
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Sep. 30, 2016 11:30 PM EDT Reads: 475
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Sep. 30, 2016 10:45 PM EDT Reads: 488
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service.
Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Sep. 30, 2016 10:45 PM EDT Reads: 1,533
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.
Sep. 30, 2016 10:00 PM EDT Reads: 1,257
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively.
What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Sep. 30, 2016 09:45 PM EDT Reads: 2,843
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 30, 2016 09:30 PM EDT Reads: 4,118
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Sep. 30, 2016 09:30 PM EDT Reads: 5,428
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA.
This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Sep. 30, 2016 09:00 PM EDT Reads: 2,830
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives.
Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 30, 2016 09:00 PM EDT Reads: 4,056
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Sep. 30, 2016 08:45 PM EDT Reads: 488
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments.
In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
Sep. 30, 2016 08:30 PM EDT Reads: 3,199
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...
Sep. 30, 2016 08:00 PM EDT Reads: 1,564
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Sep. 30, 2016 07:30 PM EDT Reads: 568
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Sep. 30, 2016 07:15 PM EDT Reads: 484