Addvantage Technologies Group Inc (AEY) 10-K Annual Report December 2017

For further information	KCSA Strategic Communications
Company Contact:	Elizabeth Barker
Scott Francis (918) 251-9121	(212) 896-1203
Scott Francis (918) 251-9121	ebarker@kcsa.com

ADDvantage Technologies Announces Financial Results

for the Fiscal Fourth Quarter of 2017

- - -

BROKEN ARROW, Oklahoma, December 14, 2017 – ADDvantage Technologies Group, Inc. (NASDAQ: AEY)

, today announced its financial results for the fourth quarter and fiscal year ended September 30, 2017. The twelve month period includes the financial results for the Company’s asset acquisition of Triton Miami, Inc. (“Triton Datacom”) from October 14, 2016 to September 30, 2017.

“We reported strong top line revenue growth in both the fourth quarter and full fiscal year, driven by the acquisition of Triton Datacom’s assets which expanded our Telco offering into the desktop phone segment and broadened our customer reach,” commented David Humphrey, President and CEO of ADDvantage Technologies. “We see significant room for further growth in our Telco segment, specifically at Nave Communications, which reported a disappointing sales performance in fiscal 2017. We have identified the challenges faced by Nave and are directing resources into improving its sales infrastructure to allow it to expand both its end-user and reseller customer base in order to increase sales. This strategy is well underway, driven by our new VP of Sales. We remain confident that Nave has a fundamentally sound business model and look forward to seeing the impact of our strategy as it takes hold over the next few quarters.

“Sales from the Cable TV segment were down in the fourth quarter of fiscal 2017, reflecting fluctuations in demand that are typical for the industry. However, the Cable TV segment’s overall performance throughout fiscal 2017 still generated consistent, positive earnings and remained flat relative to fiscal year 2016 results. While we are pleased with the consistent positive cash flows that the Cable TV segment generates, we are proactively working to continually improve operational efficiencies and to maximize the profitability of this business,” continued Mr. Humphrey.

“Looking ahead, we have implemented a plan focused on improving results in the Telco segment and continue to implement our strategy to grow the value of our business. We anticipate that Nave’s sales initiatives will serve to expand its customer base which, combined with Triton’s diversified offering and strong sales capabilities, will enable us to achieve stronger revenue growth as we progress through fiscal 2018. In addition, although we believe that the Cable TV segment revenues will be down again next quarter, we are working on consolidating some of our facilities in order to efficiently manage costs and support margins,” concluded Mr. Humphrey.

Results for the three months ended September 30, 2017

Consolidated sales increased 26% before the impact of intercompany sales to $12.3 million for the three months ended September 30, 2017 compared with $9.8 million for the three months ended September 30, 2016. The increase in sales was due to an increase in the Telco segment of $3.4 million, partially offset by a decrease in the Cable TV segment of $0.8 million. The decrease in Cable TV sales was due to a decrease in new equipment sales, repairs sales and refurbished equipment sales of $0.4 million, $0.2 million and $0.2 respectively. The increase in Telco used equipment sales was due to Triton Datacom, which offset the continued lower sales from the remaining portion of this segment. The Company is continuing to address the lower sales in the Telco segment by restructuring and expanding its sales force, targeting a broader end-

The following information was filed by Addvantage Technologies Group Inc (AEY) on Thursday, December 14, 2017 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Addvantage Technologies Group Inc provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Listing Of Company Subsidiaries

Exhibit 23.1: Consent Of Hogantaylor Llp

Exhibit 31.1: Certification Of Ceo Pursuant To Section 302 Of The Sarbanes-Oxley Act Of 2002

Exhibit 31.2: Certification Of Cfo Pursuant To Section 302 Of The Sarbanes Oxley Act Of 2002

Exhibit 32.1: Certification Of Ceo Pursuant To Section 906 Of The Sarbanes-Oxley Act Of 2002

Exhibit 32.2: Certification Of Cfo Pursuant To Section 906 Of The Sarbanes-Oxley Act Of 2002

Ticker: AEY
CIK: 874292
Form Type: 10-K Annual Report
Accession Number: 0001445260-17-000042
Submitted to the SEC: Thu Dec 14 2017 10:17:35 AM EST
Accepted by the SEC: Thu Dec 14 2017
Period: Saturday, September 30, 2017
Industry: Wholesale Durable Goods

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Addvantage Technologies Group Inc (AEY) SEC Filing 10-K Annual report for the fiscal year ending Saturday, September 30, 2017

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