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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
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Advantex Announces Net Income for Three Months Ended September 30, 2012
- Revenues up $568,000, to $4,403,000, compared with corresponding period previous year

TORONTO, ONTARIO -- (Marketwire) -- 11/26/12 -- Advantex Marketing International Inc. (CNSX:ADX) ("Advantex" or the "Company"), a leading specialist in merchant funding and loyalty marketing programs, today announced its results for the three months ended September 30, 2012. All references to quarters or years are for the fiscal periods and all currency amounts are in Canadian dollars unless otherwise noted.

"We are pleased to report continuing improvement in the Company's financial performance. The growth of the Company's small merchant centric business model is reflected in the better revenues, earnings from operations before amortization and interest, and net income," said Kelly Ambrose, Advantex President and Chief Executive Officer.

"The Company continues to seek new business partners where we can sell our proprietary programs, as well as work with existing affinity partners on new business opportunities. Recently, we received Canadian Imperial Bank of Commerce ("CIBC") approval to expand our existing programs into home decor, and from January, 2013 we expect to expand our new relationship with Canadian Tire Group ("CTG"). Finally, we are attempting to improve the retention of participating merchants in our programs by introducing new services that deliver additional value to merchants such as digital marketing platforms," said Mr. Ambrose.

Financial Highlights:


----------------------------------------------------------------------------
                                      Three months ended  Three months ended
                                      September 30, 2012  September 30, 2011
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Revenues                             $         4,403,000 $         3,835,000
----------------------------------------------------------------------------
Earnings from operations before                                             
 amortization and interest (EBITDA                                          
 (i))                                $         1,040,000 $           976,000
----------------------------------------------------------------------------
Net Income                           $           274,000 $           261,000
----------------------------------------------------------------------------
(i) EBITDA is a non-GAAP financial measure which does not have any          
standardized meaning prescribed by the issuer's GAAP and is unlikely to be  
comparable to similar measures presented by other issuers. It is provided as
additional information to assist readers in understanding a component of the
Company's financial performance. In case of the Company, for three months   
ended September 30, 2012 and 2011, per consolidated financial statements for
three months ended September 30, 2012, earnings from operations before      
amortization and interest is the nearest equivalent to EBITDA.              

"The Company's agreements with its affinity partners - CIBC, and Aeroplan Canada Inc. ("Aeroplan") - and its financial partners - 14% and 12% debenture holders, and provider of loan payable - come up for renewal between August and December, 2013. The Company expects to successfully negotiate renewal of the agreements," said Mr. Ambrose.

About Advantex Marketing International Inc.

Advantex is a specialist in the marketing services industry. Advantex partners with CIBC, and Aeroplan. On a combined basis, Advantex has contractual marketing access to more than five million Canadian consumers with above-average personal and household income. The Company's merchant partner base currently consists of more than 1,350 merchants operating restaurants; golf courses; independent inns, resorts and selected hotels; spas; retailers of men's and ladies fashion, footwear and accessories; retailers of sporting goods; florists and garden centres; book and newspaper stores; health and beauty centres; dry cleaners; gift stores; and home decor; many of which are leaders in their respective categories. Advantex is traded on the Canadian National Stock Exchange under the symbol "ADX". For additional information on Advantex, please visit www.advantex.com.

Forward-Looking Information

This Press Release contains certain "forward-looking information". All information, other than information comprised of historical fact, that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitutes forward-looking information. Forward-looking information is typically identified by words such as: anticipate, believe, expect, goal, intend, plan, will, may, should, could and other similar expressions. Such forward-looking information relates to, without limitation, information regarding the Company's: expectation respecting enrolling new merchants; belief in its ability to influence the retention of participating merchants; expectation with regards to the renewal, including the timing and the terms of such renewal, of its agreements with its affinity and financial partners; expectation with respect to expanding relationship with CTG; and other information regarding financial and business prospects and financial outlook is forward-looking information.

Forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company.

Forward-looking information is subject to a number of risks, uncertainties and assumptions that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include those listed under "General Risks and Uncertainties" and "Economic Dependence" in Management's Discussion and Analysis for the three months ended September 30, 2012.

All forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


Advantex Marketing International Inc.                                       
Consolidated Statements of Financial Position - (unaudited)                 
(expressed in Canadian dollars)                                             
----------------------------------------------------------------------------
                                         September 30, 2012   June 30, 2012 
----------------------------------------------------------------------------
Assets                                                                      
----------------------------------------------------------------------------
Current assets                                                              
----------------------------------------------------------------------------
Cash and cash equivalents                           617,532       1,084,773 
----------------------------------------------------------------------------
Accounts receivable                               1,044,566         966,437 
----------------------------------------------------------------------------
Transaction credits                              14,014,562      14,095,373 
----------------------------------------------------------------------------
Inventory (note 5)                                  165,317         204,355 
----------------------------------------------------------------------------
Prepaid expenses and sundry assets                  421,412         315,454 
----------------------------------------------------------------------------
                                        $        16,263,389  $   16,666,392 
----------------------------------------------------------------------------
Non-current assets                                                          
----------------------------------------------------------------------------
Investment (note 6)                                 100,000         100,000 
----------------------------------------------------------------------------
Property, plant and equipment (note 7a)             222,015         222,132 
----------------------------------------------------------------------------
Intangibles (note 7b)                               273,524         330,018 
----------------------------------------------------------------------------
                                                    595,539         652,150 
----------------------------------------------------------------------------
Total assets                            $        16,858,928  $   17,318,542 
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Liabilities                                                                 
----------------------------------------------------------------------------
Current liabilities                                                         
----------------------------------------------------------------------------
Loan payable (note 8)                             6,540,205       6,715,691 
----------------------------------------------------------------------------
Accounts payable and accrued                                                
 liabilities                                      3,813,676       4,128,264 
----------------------------------------------------------------------------
                                        $        10,353,881  $   10,843,955 
----------------------------------------------------------------------------
Non-current liabilities                                                     
----------------------------------------------------------------------------
14% Non-convertible debentures payable                                      
 (note 9)                                         1,711,428       1,770,606 
----------------------------------------------------------------------------
12% Non-convertible debentures payable                                      
 (note 10)                                        5,623,830       5,779,957 
----------------------------------------------------------------------------
                                        $         7,335,258  $    7,550,563 
----------------------------------------------------------------------------
Total Liabilities                       $        17,689,139  $   18,394,518 
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Shareholders' deficiency                                                    
----------------------------------------------------------------------------
Share capital (note 11)                          24,110,096      24,110,096 
----------------------------------------------------------------------------
Contributed surplus (note 12)                       793,198         793,198 
----------------------------------------------------------------------------
Equity portion of debentures (note 10)            2,114,341       2,114,341 
----------------------------------------------------------------------------
Warrants (note 9/10)                              1,167,874       1,196,013 
----------------------------------------------------------------------------
Deficit                                         (29,015,720)    (29,289,624)
----------------------------------------------------------------------------
Total deficiency                        $          (830,211) $   (1,075,976)
----------------------------------------------------------------------------
Total liabilities and deficiency        $        16,858,928  $   17,318,542 

Economic and Financial dependence (note 2)

Commitments and Contingencies (note 14)

The accompanying notes are an integral part of these consolidated financial statements.


Approved by the                                                             
Board:                                                                      
                                                                            
Director:          Signed "William Polley" Director: Signed "Kelly Ambrose" 
                   William Polley                    Kelly E. Ambrose       
                                                                            
                                                                            
Advantex Marketing International Inc.                                       
Consolidated Statements of Income and Comprehensive Income                  
For the three months ended September 30, 2012 and September 30, 2011 -      
(unaudited)                                                                 
(expressed in Canadian dollars)                                             
                                      September 30, 2012  September 30, 2011
----------------------------------------------------------------------------
                                                       $                   $
----------------------------------------------------------------------------
Revenues                                       4,403,417           3,835,107
----------------------------------------------------------------------------
Direct expenses                                1,376,029           1,044,193
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Operating Expenses                                                          
----------------------------------------------------------------------------
Selling and marketing                            909,837             776,330
----------------------------------------------------------------------------
General and administrative                     1,077,848           1,038,091
----------------------------------------------------------------------------
Earnings from operations before                                             
 amortization and interest                     1,039,703             976,493
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Depreciation of property, plant and                                         
 equipment, and intangibles                      107,914              92,402
----------------------------------------------------------------------------
Interest expense:                                                           
----------------------------------------------------------------------------
  Stated interest expense - loan                                            
   payable, and debentures                       516,596             490,834
----------------------------------------------------------------------------
  Non-cash interest expense on loan                                         
   payable, and debentures                       141,289             132,004
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Net income and Comprehensive income              273,904             261,253
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Earnings per share                                                          
----------------------------------------------------------------------------
  Basic and Diluted (note 15)                       0.00                0.00
----------------------------------------------------------------------------
                                                                            

The accompanying notes are an integral part of these consolidated financial statements.


Advantex Marketing International Inc.                                       
Consolidated Statements of Changes in Deficiency                            
For the three months ended September 30, 2012 and September 30, 2011 -      
(unaudited)                                                                 
(expressed in Canadian dollars)                                             
--------------------------------------------------------------------------
                                 Class A                            Equity
                              preference     Common Contributed portion of
                                  shares     shares     surplus debentures
                                       $          $           $          $
--------------------------------------------------------------------------
Balance - July 1, 2011             3,815 24,106,281     726,795  2,114,341
--------------------------------------------------------------------------
Net income and comprehensive                                              
 income for the period                                                    
--------------------------------------------------------------------------
Employee share options:                                                   
--------------------------------------------------------------------------
  Value of services                                                       
   recognized                                             6,000           
--------------------------------------------------------------------------
Balance - September 30, 2011       3,815 24,106,281     732,795  2,114,341
--------------------------------------------------------------------------
                                                                          
--------------------------------------------------------------------------
Balance - July 1, 2012             3,815 24,106,281     793,198  2,114,341
--------------------------------------------------------------------------
Net income and comprehensive                                              
 income for the period                                                    
--------------------------------------------------------------------------
Employee share options:                                                   
--------------------------------------------------------------------------
  Value of services                                                       
   recognized                                                 -           
--------------------------------------------------------------------------
Partial early prepayment of                                               
 debentures (notes 9 and 10)                                              
--------------------------------------------------------------------------
Balance - September 30, 2012       3,815 24,106,281     793,198  2,114,341

----------------------------------------------------------------------------
                                   Warrants         Deficit           Total 
                                          $               $               $ 
----------------------------------------------------------------------------
Balance - July 1, 2011            1,196,013     (29,516,267)     (1,369,022)
----------------------------------------------------------------------------
Net income and comprehensive                                                
 income for the period                              261,253         261,253 
----------------------------------------------------------------------------
Employee share options:                                                     
----------------------------------------------------------------------------
  Value of services                                                         
   recognized                                                         6,000 
----------------------------------------------------------------------------
Balance - September 30, 2011      1,196,013     (29,255,014)     (1,101,769)
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Balance - July 1, 2012            1,196,013     (29,289,624)     (1,075,976)
----------------------------------------------------------------------------
Net income and comprehensive                                                
 income for the period                              273,904         273,904 
----------------------------------------------------------------------------
Employee share options:                                                     
----------------------------------------------------------------------------
  Value of services                                                         
   recognized                                                             - 
----------------------------------------------------------------------------
Partial early prepayment of                                                 
 debentures (notes 9 and 10)        (28,139)                        (28,139)
----------------------------------------------------------------------------
Balance - September 30, 2012      1,167,874     (29,015,720)       (830,211)

The accompanying notes are an integral part of these consolidated financial statements.


Advantex Marketing International Inc.                                       
Consolidated Statements of Cash Flow                                        
For the three months ended September 30, 2012 and September 30, 2011 -      
(unaudited)                                                                 
(expressed in Canadian dollars)                                             
----------------------------------------------------------------------------
                                                  30-09-2012     30-09-2011 
----------------------------------------------------------------------------
                                                           $              $ 
----------------------------------------------------------------------------
Cash flow provided by (used in)                                             
----------------------------------------------------------------------------
Operating activities                                                        
----------------------------------------------------------------------------
Net income for the period                      $     273,904  $     261,253 
----------------------------------------------------------------------------
Adjustments for:                                                            
----------------------------------------------------------------------------
  Depreciation of property, plant and                                       
   equipment, and intangibles                        107,914         92,402 
----------------------------------------------------------------------------
  Stock-based compensation                                 -          6,000 
----------------------------------------------------------------------------
  Accretion charge for debentures                    141,289        132,004 
----------------------------------------------------------------------------
                                                     523,107        491,659 
----------------------------------------------------------------------------
Changes in items of working capital                                         
----------------------------------------------------------------------------
  Accounts receivable                                (78,129)       (14,195)
----------------------------------------------------------------------------
  Transaction credits                                 80,811       (908,265)
----------------------------------------------------------------------------
  Inventory                                           39,038         66,451 
----------------------------------------------------------------------------
  Prepaid expenses and sundry assets                (105,958)       (72,280)
----------------------------------------------------------------------------
  Accounts payable and accrued liabilities          (314,588)      (100,541)
----------------------------------------------------------------------------
                                                    (378,826)    (1,028,830)
----------------------------------------------------------------------------
Net cash provided by (used in) operating                                    
 activities                                          144,281       (537,171)
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Investing activities                                                        
----------------------------------------------------------------------------
Purchase of property, plant and equipment, and                              
 intangibles                                         (51,303)       (67,655)
----------------------------------------------------------------------------
Net cash used in investing activities                (51,303)       (67,655)
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Financing activities                                                        
----------------------------------------------------------------------------
Proceeds from loan payable                          (175,486)     1,105,328 
----------------------------------------------------------------------------
Partial early prepayment of debentures              (376,033)             - 
----------------------------------------------------------------------------
Debenture early prepayment / renewal -                                      
 additional transaction costs                         (8,700)       (28,573)
----------------------------------------------------------------------------
Net cash (used in) generated from financing                                 
 activities                                         (560,219)     1,076,755 
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Increase (decrease) in cash and cash                                        
 equivalents during the period                 $    (467,241) $     471,929 
----------------------------------------------------------------------------
  From continuing operations                        (435,135)       497,006 
----------------------------------------------------------------------------
  From discontinued operations (note 17)             (32,106)       (25,077)
----------------------------------------------------------------------------
Increase (decrease) in cash and cash                                        
 equivalents during the period                 $    (467,241) $     471,929 
----------------------------------------------------------------------------
Cash and cash equivalents, including bank                                   
 indebtedness - Beginning of period                1,084,773        (78,262)
----------------------------------------------------------------------------
Cash and cash equivalents, including bank                                   
 indebtedness - End of period                        617,532        393,667 
----------------------------------------------------------------------------
                                                                            
Additional Information                                                      
Interest paid                                  $      713,073 $      569,666
                                                                            
For purposes of the cash flow statement, cash                               
 comprises:                                                                 
Cash                                           $      612,532 $      388,667
Term deposits                                  $        5,000 $        5,000
                                               -------------- --------------
                                               $      617,532 $      393,667
                                               -------------- --------------

The accompanying notes are an integral part of these consolidated financial statements.

Contacts:
Advantex Marketing International Inc.
Mukesh Sabharwal
Vice-President and Chief Financial Officer
905-470-9558 ext. 249
Mukesh.sabharwal@advantex.com
www.advantex.com

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