ADDvantage Technologies Group, Inc.
1221 E. Houston
Broken Arrow, Oklahoma 74012

For further information
KCSA Strategic Communications
Company Contact:
Garth Russell / Diane Imas
Scott Francis        (9l8) 25l-9121
(212) 896-1250 / (212) 896-1242
grussell@kcsa.com / dimas@kcsa.com

ADDvantage Technologies Announces Financial Results for the
Fiscal Fourth Quarter of 2012
- - -
Total revenue of $35.2 million and net income of $0.12 per diluted share for fiscal year 2012
- - -
Total revenue of $8.5million and net income of $0.04 per diluted share for the fourth quarter of fiscal year 2012

BROKEN ARROW, Oklahoma, December 11, 2012 – ADDvantage Technologies Group, Inc. (NASDAQ: AEY)
, today announced its results for the three month period and year ended September 30, 2012.

Revenue for the three months ended September 30, 2012 decreased 25% to $8.5 million compared to $11.3 million for the same period last year. New equipment sales were $5.1 million for the three months ended September 30, 2012 as compared to $7.0 million for the three months ended September 30, 2011.  Net refurbished equipment sales were $2.2 million for the three months ended September 30, 2012 as compared to $2.8 million for the same period last year.  Sales of new and refurbished equipment continued to be negatively impacted by several factors including the continued decrease in plant expansions and bandwidth upgrades in the cable television industry.  Service revenue decreased to $1.2 million for the three month period ended September 30, 2012 compared to $1.5 million for the same period last year.

Net income was $0.4 million, or $0.04 per diluted share, for the three month period ended September 30, 2012, compared to $0.7 million, or $0.07 per diluted share, for the same period of 2011.  Net income for the fourth quarter of fiscal 2012 benefited from a $0.2 million reduction in interest expense compared to the same period last year, which was a result of the Company paying off one of its term loans in March 2012 and the termination of the associated interest rate swap agreement.

For the twelve months ended September 30, 2012, revenue decreased to $35.2 million from $38.1 million for the same period last year. The decrease in equipment sales was primarily due to the continued decrease in plant expansions and bandwidth upgrades in the cable television industry, partially offset by revenue from Adams Global Communications, which was acquired in May 2011.

Net income attributable to common stockholders for the twelve month period was $1.3 million, or $0.12 per diluted share, as compared to $2.5 million, or $0.25 per diluted share, for the twelve months of fiscal 2011.  Net income for fiscal 2012 included a charge to interest expense of $0.8 million for the termination of the interest rate swap agreement, partially offset by reduced interest expense of $0.4 million subsequent to paying off one of its term loans and terminating the associated interest rate swap agreement.
 
 
David Humphrey, President and CEO, commented, “Our results continue to reflect a general weakness in equipment sales in the cable television industry.  However, we still maintained our gross margins at approximately 30% and generated $1.3 million of net income in fiscal year 2012.  We also improved our overall balance sheet position in fiscal year 2012 by paying off one of our term loans and terminating the associated interest rate swap agreement.
 
 
 

The following information was filed by Addvantage Technologies Group Inc (AEY) on Tuesday, December 11, 2012 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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