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09.08.2012 16:30
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PR Newswire
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Advant-e Corporation Announces Second Quarter 2012 Results
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PR Newswire
DAYTON, Ohio, Aug. 9, 2012
DAYTON, Ohio, Aug. 9, 2012 /PRNewswire/ -- Advant-e Corporation (OTCQB: ADVC) today announced financial and operating results for the second quarter of 2012. The Company provides Internet-based Electronic Data Interchange services through Edict Systems and sells electronic document management software and services through Merkur Group.
Revenue in the second quarter of 2012 of $2,546,251 increased by 8% over revenue of $2,359,624 in the second quarter of 2011. Revenue from Edict Systems increased by 9% and revenue from Merkur Group increased by 3% compared to the second quarter in 2011.
Net income in the second quarter of 2012 was $504,505, or $.008 per share, compared to net income of $392,460, or $.006 per share, in the same period in 2011. Net income for Edict Systems increased by 24% and net income for Merkur Group increased by 58%.
Jason K. Wadzinski, Chairman of the Board and Chief Executive Officer, stated, "I am pleased to announce a record quarter for revenue and net income. This quarter marks nine years of consecutive quarterly net income."
"Edict Systems continued to show steady growth in its targeted markets," continued Mr. Wadzinski. "Merkur Group reported improved net income due to our efforts at controlling costs as we continued to focus on growing revenue in this segment."
About Advant-e Corporation
Advant-e, via its wholly owned subsidiaries Edict Systems, Inc. and Merkur Group, Inc. is a provider of internet-based hosted 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 advant-e@edictsystems.com.
ADVANT-E CORPORATION AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited)
| | | | | ||||
| | Three Months Ended | | Six Months Ended | ||||
| | 2012 | | 2011 | | 2012 | | 2011 |
| Revenue | $ 2,546,251 | | 2,359,624 | | 5,011,689 | | 4,660,044 |
| Cost of revenue | 983,383 | | 976,919 | | 2,007,120 | | 1,894,811 |
| | | | | | | | |
| Gross margin | 1,562,868 | | 1,382,705 | | 3,004,569 | | 2,765,233 |
| Marketing, general and administrative expenses | 798,363 | | 787,593 | | 1,653,335 | | 1,587,050 |
| | | | | | | | |
| Operating income | 764,505 | | 595,112 | | 1,351,234 | | 1,178,183 |
| Other income, net | 630 | | 914 | | 1,440 | | 2,041 |
| | | | | | | | |
| Income before income taxes | 765,135 | | 596,026 | | 1,352,674 | | 1,180,224 |
| Income tax expense | 260,630 | | 203,566 | | 460,962 | | 402,677 |
| | | | | | | | |
| Net income | $ 504,505 | | 392,460 | | 891,712 | | 777,547 |
| | | | | | | | |
| Earnings per share – basic and diluted | $ .008 | | .006 | | .013 | | .012 |
| | | | | | | | |
| Weighted average shares outstanding – basic and diluted | 66,722,590 | | 66,722,590 | | 66,722,590 | | 66,722,590 |
| | | | | | | | |
ADVANT-E CORPORATION AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
| | | | |
| | June 30, 2012(Unaudited) | | December 31, 2011 |
| Assets | | | |
| Current Assets: | | | |
| Cash and cash equivalents | $ 4,577,425 | | 3,459,402 |
| Accounts receivable, net | 759,465 | | 784,239 |
| Prepaid software maintenance costs | 207,683 | | 190,429 |
| Prepaid expenses and deposits | 87,582 | | 107,871 |
| Prepaid income taxes | — | | 1,910 |
| Deferred income taxes | 228,565 | | 207,336 |
| | | | |
| Total current assets | 5,860,720 Werbung Mehr Nachrichten zur Advant-E Aktie kostenlos abonnieren
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