Addvantage Technologies Group Inc (AEY) 10-Q Quarterly Report August 2022

Carrollton, Texas, July 27, 2022 – ADDvantage Technologies Group, Inc. (NASDAQ: AEY) (“ADDvantage Technologies” or the “Company”) today announced that it will release financial results for the nine month period ended June 30, 2022, on Thursday, August 11, 2022 after the markets close followed by a discussion of the financial results 5 p.m. Eastern.

Date: Thursday, August 11, 2022

Time: 5 p.m. Eastern

Toll-free Dial-in Number: 1-800-289-0720

International Dial-in Number: 1-323-701-0160

Conference ID: 2999226

The conference call will be available via webcast and can be accessed through the Investor Relations section of ADDvantage's website, www.addvantagetechnologies.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet broadcast.

A replay of the conference call will be available through August 25, 2022.

Toll-free Replay Number: 1-844-512-2921

International Replay Number: 1-412-317-6671

Replay Passcode: 2999226

An online archive of the webcast will be available on the Company's website for 30 days following the call.

About ADDvantage Technologies Group, Inc.

ADDvantage Technologies Group, Inc. (Nasdaq: AEY) is a communications infrastructure services and equipment provider operating a diversified group of companies through its Wireless Infrastructure Services and Telecommunications segments. Through its Wireless segment, Fulton Technologies provides turn-key wireless infrastructure services including the installation, modification and upgrading of equipment on communication towers and small cell sites for wireless carriers, national integrators, tower owners and major equipment manufacturers. Through its Telecommunications segment, Nave Communications and Triton Datacom sell equipment and hardware used to acquire, distribute, and protect the communications signals carried on fiber optic, coaxial cable and wireless distribution systems. The Telecommunications segment also offers repair services focused on telecommunication equipment and recycling surplus and related obsolete telecommunications equipment.

The following information was filed by Addvantage Technologies Group Inc (AEY) on Wednesday, July 27, 2022 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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Inside Addvantage Technologies Group Inc's 10-Q Quarterly Report:

Revenue - Product Highlight
Inventory Valuation For our Telco segment, our position in the telecommunications industry requires us to carry large inventory quantities relative to annual sales, but it also allows us to realize higher gross profit margins on our sales.

Financial - Earnings Highlight
If actual market conditions differ from those projected by management, this could have a material impact on our gross margin and inventory balances based on additional write-downs to net realizable value or a benefit from inventories previously written down.
Financial - Earnings Highlight
Consolidated gross profit was $8.1 million, or 29% gross margin for the three months ended June 30, 2022, compared to gross profit of $4.3 million, or 25% gross margin for the three months ended June 30, 2021, an increase of $3.8 million.
Financial - Expense Highlight
Operating expenses were $2.5 million, compared to $2.5 million in the same period last year, representing no change in absolute dollars, but a decline from 15% of revenue to 9% of revenue due primarily to cost control measures instituted by the Company during the latter part of the fiscal second quarter and continuing into the fiscal third quarter of 2022.
Financial - Expense Highlight
Purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs and other inventory expenditures are included in operating expenses.
Revenue - Product
Although we experienced increased revenues...Read more
Financial - Earnings
The improvement in margin percent...Read more
Revenue - Product
The offer and sale of...Read more
Financial - Earnings
The increased gross profit was...Read more
Revenue - Product
The increase was related to...Read more
Revenue - Product
The increase was related to...Read more
Financial - Earnings
Gross profit was $13.5 million...Read more
Financial - Expense
Adjusted EBITDA as presented also...Read more
Financial - Expense
Consolidated operating expenses increased $1.1...Read more
Financial - Expense
SG&A expense increased $0.5 million,...Read more
Revenue - Product
The growth in revenues over...Read more
Financial - Expense
Consolidated selling, general and administrative...Read more
Other - Other
Adjusted EBITDA is presented below...Read more
Revenue - Product
The increase in sales was...Read more
Other - Other
Non-GAAP Financial Measure Adjusted EBITDA...Read more
Revenue - Product
The increase in sales was...Read more
Financial - Earnings
The increase in gross profit...Read more
Financial - Earnings
The increase in gross profit...Read more
Other - Other
Intangibles Intangible assets that have...Read more
Financial - Earnings
The decrease in the gross...Read more
Revenue - Product
Comparison of Results of Operations...Read more
Revenue - Product
The increase in revenues over...Read more
Revenue - Product
Results of Operations Comparison of...Read more
Revenue - Geography
Special Note on Forward-Looking Statements...Read more
Financial - Shares
We entered into an Equity...Read more
Financial - Expense
The increase in SG&A relates...Read more
Financial - Expense
The increase in SG&A relates...Read more
Revenue - Product
Telco Sales for the Telco...Read more
Revenue - Product
Table of Contents Telco Sales...Read more
Other - Other
In response to these declarations...Read more
Other - Other
The shelf registration statement will...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AEY
CIK: 874292
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-022473
Submitted to the SEC: Thu Aug 11 2022 4:14:55 PM EST
Accepted by the SEC: Thu Aug 11 2022
Period: Thursday, June 30, 2022
Industry: Wholesale Durable Goods

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Addvantage Technologies Group Inc (AEY) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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