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08.11.2012 19:25
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PR Newswire
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Advant-e Corporation Announces Third Quarter 2012 Results
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PR Newswire
DAYTON, Ohio, Nov. 8, 2012
DAYTON, Ohio, Nov. 8, 2012 /PRNewswire/ -- Advant-e Corporation (OTCQB: ADVC) today announced financial and operating results for the third 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 third quarter of 2012 of $2,576,729 increased by 5% over revenue of $2,447,674 in the third quarter of 2011. Revenue from Edict Systems increased by 7% and revenue from Merkur Group decreased by 3% compared to the third quarter in 2011.
Net income in the third quarter of 2012 increased by 22% and was $556,737, or $.008 per share, compared to net income of $455,542, or $.007 per share, in the same period in 2011.
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 | Nine Months Ended | ||
| | | | ||
| | 2012
| 2011
| 2012
| 2011
|
| Revenue | $ 2,576,729 | 2,447,674 | 7,588,418 | 7,107,718 |
| Cost of revenue | 999,386 | 955,698 | 3,006,506 | 2,850,509 |
| | | | | |
| Gross margin | 1,577,343 | 1,491,976 | 4,581,912 | 4,257,209 |
| Marketing, general and administrative expenses | 733,810 | 802,075 | 2,387,145 | 2,389,125 |
| | | | | |
| Operating income | 843,533 | 689,901 | 2,194,767 | 1,868,084 |
| Other income, net | 264 | 892 | 1,704 | 2,933 |
| | | | | |
| Income before income taxes | 843,797 | 690,793 | 2,196,471 | 1,871,017 |
| Income tax expense | 287,060 | 235,251 | 748,022 | 637,928 |
| | | | | |
| Net income | $ 556,737 | 455,542 | 1,448,449 | 1,233,089 |
| | | | | |
| Earnings per share – basic and diluted | $ .008 | .007 | .022 | .018 |
| | | | | |
| 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 | ||
| | | |
| | September 30, | December 31, 2011 |
| Assets | | |
| Current Assets: | | |
| Cash and cash equivalents | $5,113,837 | 3,459,402 |
| Accounts receivable, net | 926,791 | 784,239 |
| Prepaid software maintenance costs | 222,362 | 190,429 |
| Prepaid expenses and deposits | 85,369 | 107,871 |
| Prepaid income taxes | — | 1,910 Werbung Mehr Nachrichten zur Advant-E Aktie kostenlos abonnieren
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