This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Advant-e Corporation Announces Financial Results For 2009

DAYTON, Ohio, March 11 /PRNewswire-FirstCall/ -- Advant-e Corporation (OTC Bulletin Board: ADVC), today announced financial and operating results for 2009.  The Company provides Internet-based Electronic Data Interchange services through Edict Systems, Inc. and sells electronic document management software and services through Merkur Group, Inc.  Edict Systems and Merkur Group are wholly owned subsidiaries of Advant-e Corporation.

The Company reported revenue in 2009 of $8,649,199, a 2% decrease compared to revenue of $8,869,169 in 2008.  The decrease is attributable to a significant decline in revenue from our Merkur Group subsidiary from $2,134,193 in 2008 to $1,505,974 in 2009.  This decline was partially offset by the increase in revenue for Edict Systems from $6,734,976 in 2008 to $7,143,225 in 2009.  Revenue for Edict Systems increased by $408,249, or 6%, while revenue from Merkur Group decreased by $628,219, or 29%.

The Company reported record net income for 2009 of $1,194,802, or $.018 per share, compared to $1,063,790, or $.016 per share, in 2008.  Net income in 2009 increased 12% compared to 2008.  Earnings per share for 2009 and 2008 reflect the increased number of outstanding shares that resulted from the ten for one stock split in the fourth quarter of 2009.

Highlights of 2009 financial and operating results include:

  • Edict Systems Revenue Increased for the Ninth Consecutive Year – Revenue for Edict Systems increased across all major product and service categories in 2009 compared to 2008 with the exception of AutomotiveEC, which declined due to the overall weakness in the automotive sector.  Revenue from EnterpriseEC®, a hosted integration service, increased by 15%, from $1,175,178 in 2008 to $1,351,233 in 2009.
  • Net Income Exceeded $1 million for Third Consecutive Year – The Company in 2009 reported a net profit for the seventh consecutive year.
  • Merkur Group Net Income increased by 47% – Despite a significant decline in revenue for Merkur Group, net Income increased by 47% to $177,459 in 2009 from $121,048 in 2008.  The increase was due to the Company's efforts to control costs and operating expenses.
  • Special Cash Dividend – In 2009 the Company announced a special cash dividend of $0.03 per share totaling $2,001,678, to be paid in three installments of $.01 per share.  The first installment was paid in December of 2009.   Two additional installments of $.01 per share each are scheduled to be paid in June of 2010 and December of 2010.
  • Strong Cash Position at Year-end – Cash and cash equivalents of $2,713,996 provide a solid foundation for growth and meeting financial obligations in 2010 and beyond.
  • No Outstanding Bank or Other Long-Term Debt – The Company continues to maintain an unused $1.5 million bank line of credit.

Mr. Jason K. Wadzinski, Chairman and CEO of Advant-e stated, "2009 was another challenging year for Advant-e with a significant reduction in software revenue from Merkur Group.  Customers in the automotive industry were hit very hard by the economic downturn, and accordingly, revenue from our automotive sector declined for the first year since we entered the industry in 2004.     We were successful, however, in planning for the slow economy in 2009 as we reduced our selling, general and administrative expenses sufficiently to report a record net income."

"I continue to be positive about our prospects going forward and our ability to produce acceptable financial results under the current adverse economic conditions.    We continue to pursue new industries that would benefit from our services and have been making inroads into the health care market.  Merkur Group is expanding product offerings and recently introduced an automated remittance advice solution for its PeopleSoft integration. Edict and Merkur personnel have been working together to combine product offerings into a certified SaaS EDI solution for the PeopleSoft market."

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs