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Thursday, August 11, 2011
Advant-e Corporation Announces Second Quarter
Quarterly Revenue of $2,359,624 Increased by 1% and Net Income of
$392,460 Decreased by 2% Compared to the Second Quarter of Last Year
DAYTON, Ohio, August 11, 2011 Advant-e Corporation (OTC Bulletin Board: ADVC) today announced financial and operating results for the second quarter of 2011. The Company provides Internet-based Electronic Data Interchange services through Edict Systems, Inc. and sells electronic document management software and services through Merkur Group, Inc. Edict Systems and Merkur Group are wholly owned subsidiaries of Advant-e Corporation.
Revenue in the second quarter of 2011 of $2,359,624 increased by 1% over revenue of $2,343,816 in the second quarter of 2010. Revenue from Edict Systems increased 7% and revenue from Merkur Group decreased 26%.
Net income in the second quarter of 2011 was $392,460, or $.006 per share, compared to net income of $399,840, or $.006 per share, in the same period in 2010. Net income from Edict increased 13% while Merkur net income decreased by 56%.
Jason K. Wadzinski, Chairman of the Board and Chief Executive Officer, stated, This quarter was very difficult for our Merkur Group subsidiary. While Merkur contributed almost $40,000 to our net income for the second quarter, the market for their products and services continues to be challenging. We are working on expanding the focus of Merkur to provide a broader-based solution as well as a renewed focus on in-bound document processing.
Edict increased both revenue and net income over last year, continued Mr. Wadzinski. As we expand the use of our updated Web EDI platform, I believe there will be additional opportunities for growth with our existing and future customer base.
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 firstname.lastname@example.org.
The following information was filed by Advant E Corp (ADVC) on Thursday, August 11, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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