Advant-e Corporation (fka ADVCD)

[esidney]

Financial results 2010

Advant-e Corporation Announces Financial Results for 2010

Company Reports Record Revenue and Net Income; Revenue increased 8% and Net income increased 33% compared to 2009

The Company reported record revenue in 2010 of $9,302,611, an 8% increase compared to revenue of $8,649,199 in 2009. Revenue for Edict Systems increased 9% and revenue from Merkur Group increased 2%.

The Company reported record net income for 2010 of $1,585,339, or $.024 per share, compared to $1,194,802, or $.018 per share, in 2009. Net income in 2010 increased 33% compared to 2009.

Highlights of 2010 financial and operating results include:

* Edict Systems Revenue Increased for the Tenth Consecutive Year – Revenue for Web EDI in the Grocery/Retail and Automotive sectors increased 11%.
* Net Income Exceeded $1 million for Fourth Consecutive Year – 2010 marks the eighth consecutive year the company has reported a net profit. The Company exceeded its goal of 20% pre-tax profitability 6 out of last 7 years.
* Special Cash Dividend – The Company paid the final two installments of the special cash dividend declared in 2009 totaling $1,334,452, or $.02 per share.
* Strong Cash Position at Year-end – Cash and cash equivalents of $2,963,172 provide sufficient liquidity for funding growth and other business and financial initiatives. (4.5 cents per share)
* The Company had no Outstanding Bank or Other Long-Term Debt during 2010.

http://www.prnewswire.com/news-releases/advant-e-corporation-announces-financial-results-for-2010-118230909.html