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Renee PremiumMember
08/21/13 5:31 PM
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THE MICROCAPITALI$T Deceased
02/18/03 12:22 PM

Advantage Technologies (fka ADDM) RSS Feed

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ADDM .95/1.10 turned in a helluva good qtr on Friday with revenue of $7.67m vs prior year revenue of $5.58m. Net inc was $704,000 vs $357,000....a double...and per sh profit was 7 cents vs 4 cents. In talking with management over the past couple of years I have seen them execute a business plan that is now beginning to pay off very well. Key to this plan has been master service and repair agreements with blue chip companies like Motorola, Siemens and others. Also, they expect the continued buildout of CATV to enable them to continue to post strong results as indicated in their 10q filed today. There are 10m shares outstanding here but only 1.5m in the float. Cash on hand end of 1st qtr was $756,000. Initial target here is 2.50. B: ADDvantage Technologies Group, Inc. Reports First Quarter Re B: ADDvantage Technologies Group, Inc. Reports First Quarter Results BROKEN ARROW, Okla., Feb 7, 2003 (BUSINESS WIRE) -- ADDvantage Technologies Group, Inc. (OTCBB:ADDM) today announced its financial results for the first quarter ended December 31, 2002. Revenues for the first quarter of fiscal 2003 rose 37.8% to $7.7 million from $5.6 million for the same quarter of fiscal 2002, primarily due to the positive results of marketing to the large cable multiple system operators and the distributor relationships we have established with Scientific Atlanta, Motorola and various other manufacturers within the last two years. Net income applicable to Common Stock for the current quarter increased 100% to $704,000, or $.07 per share, as compared to $352,000, or $.04 per share in the prior year. "We are pleased with our strong results despite challenging market conditions," said Ken Chymiak, President of ADDvantage Technologies Group. "Our strategic relationship with Scientific Atlanta, a large inventory of both new and refurbished products and aggressive marketing at all of our divisions were the primary drivers of our performance." ADDVANTAGE TECHNOLOGIES GROUP, INC. and its subsidiaries, TULSAT, LEE CATV Corporation, NCS Industries, Comtech Services, TULSAT-Texas, and TULSAT-Atlanta comprise an organization involved in the re-manufacture, repair and sale of previously owned cable television ("CATV") equipment and the distribution of new and surplus equipment to CATV operators. For more information, please visit the corporate web site at www.addvantagetech.com or contact the company directly at 918/251-9121.
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