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TORONTO, ONTARIO -- (Marketwire) -- 02/01/13 -- 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 and nine month period ended December 31, 2012:
Quarter ended --------------------------------------- Dec 31, 2012 Dec 31, 2011 VarianceTotal revenues 1,711,785 1,418,498 20.7%Revenues - Recurring Monitoring and Response(1) 717,633 645,696 11.1%Revenues from other security services and transport 994,152 772,802 28.6%Total gross profit 580,880 477,259 21.7%Adjusted EBITDA(2) 112,530 (4,013)Net income (loss) before discontinued operations 85,395 (46,495)Net income (loss) for the period 85,395 (46,495)Basic and diluted income (loss) per share 0.002 (0.001)Total common shares outstanding 55,908,843 55,908,843Total assets 1,841,902 1,771,611Total liabilities (excluding deferred revenue) 621,124 633,304Deferred revenue 1,342,408 1,251,900Total liabilities 1,963,532 1,885,204Bank and other debt -nil- -nil- Nine month period ended --------------------------------------- Dec 31, 2012 Dec 31, 2011 VarianceTotal revenues 4,668,028 4,050,112 15.3%Revenues - Recurring Monitoring and Response(1) 2,084,915 1,963,213 6.2%Revenues from other security services and transport 2,583,113 2,086,900 23.8%Total gross profit 1,514,463 1,166,931 29.8%Adjusted EBITDA(2) 136,684 (361,775)Net income (loss) before discontinued operations 75,536 (500,317)Net income (loss) for the period 75,536 (497,337)Basic and diluted income (loss) per share 0.001 (0.009)Total common shares outstanding 55,908,843 55,908,843Total assets 1,841,902 1,771,611Total liabilities (excluding deferred revenue) 621,124 633,304Deferred revenue 1,342,408 1,251,900Total liabilities 1,963,532 1,885,204Bank and other debt -nil- -nil-
Co-CEOs Emmanuel Mounouchos and George Rossolatos announced Avante Logixx Inc.'s results for the quarter and nine month period ended December 31, 2012. The Company's financial performance continued to show marked improvement, with significant increases in revenues and gross profit, as well as continued profitability. Revenues for the quarter ended December 31, 2012 amounted to $1.71 million as compared to $1.42 million for the same quarter in the previous fiscal year, a net growth of 20.7%, while revenues for the nine month period registered a 15.3% increase to $4.67 million as compared to $4.05 million for the same period last year.
