TORONTO, ONTARIO — (Marketwired) — 07/22/13 — Avante Logixx Inc., (“the Company”) (TSX VENTURE: XX) 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 June 30, 2013:
Co-CEOs George Rossolatos and Emmanuel Mounouchos announced Avante Logixx Inc.-s results for the quarter ended June 30, 2013. The Company reported strong results driven by growth across all lines of business.
Net income for the quarter was $430,324 as compared to a loss of (25,041) for the same quarter in the prior fiscal year. Adjusted EBITDA for the year was $439,898 (June 30, 2012: ($9,082)). The Company continues to focus on organic growth in the Rapid Alarm Response, Security Monitoring and Installations segments, while looking to develop new security solutions to residential and corporate customers. Growth in recurring security revenue remains strong.
Avante Intelligent Perimeter Protection (“AIPP”) is a recent offering comprising both Intrusion Detection and Intelligent Video Analytics using sophisticated software algorithms to study the environment the camera is focused on. The moment there is an intrusion by an individual into the camera-s view, 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. Avante is using this offering to create a perimeter -bubble- around homes and businesses and apprehending intruders before a break-in attempt occurs. AIPP revenue continues to show significant growth and is recurring in nature.
International Security Travel Advisory Services (“ISTAS”) is another recent offering by Avante. The Company is working with several multinational companies in ensuring that their travelling employees have appropriate protection, transportation services and logistics while travelling to higher risk environments. ISTAS has shown significant growth in the past year with this quarter being exceptional due to a particular international product launch across multiple countries. 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 million at June 30, 2013 with no debt. Management believes that there are significant opportunities for the Company to consolidate and further improve its market share, which would result in further profitability.
Avante Logixx Inc. (TSX VENTURE: XX) is a Toronto based security and technology company. Its primary operating division, Avante Security Inc. (), 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 intelligent video analytics. The company continuously develops innovative products and applications within its core competencies. Please visit .
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.
Contacts:
George Rossolatos
Co-CEO
(416) 923-6984 x221
Leland Verner
Chairman
(416) 823-7474
You must be logged in to post a comment Login