AVANTE LOGIXX INC. ANNOUNCES RESULTS FOR THIRD QUARTER

TSXV TRADING SYMBOL: XX

TORONTO, Feb. 25 /CNW/ - Avante Logixx Inc. (TSXV: XX) (the "Corporation") is pleased to announce its results for the quarter and nine month period ended 31 December 2010.


Revenues for the quarter grew by 31% over the same period last year, while gross margin grew by over 139%. The Company recorded its highest quarterly revenues since it went public in 2008. The improved results were largely attributable to the significant traction gained in the Security Services business over the past two quarters as a result of various initiatives to maximize revenues, reduce costs and drive efficiencies in the divisions.


SmartBoxx, which the Company has been developing for the past two years, and can be used in monitoring, control and energy management, is being deployed in two pilot projects, with the potential of commercial deployment in the near future. This division is in its early stages and is not yet profitable; however, the potential exists in several target markets for material growth in this division and losses in this division are narrowing due to cost efficiency initiatives.


Gross profit as a percentage of sales increased to 25.3% for the quarter from 13.9% for the same period last year.


About the Corporation


Avante manufactures and markets the innovative SmartboxxTM which provides "anytime, anywhere" true two-way communication. The company is focused on the expanded commercialization of its energy management, security and automation interactive cellular based technology for applications in the utility, property management and telecommunications markets. Customizable through a variety of plug-an-play modules, including Zigbee, the SmartBoxxTM is a next-generation technology for information monitoring and control services. Avante also provides premium executive security services using its innovative technologies.

  For the three month period ended For the three month period ended
  Dec 31,
2010
Dec 31,
2009
+/(-) Dec 31,
2010
Dec 31,
2009
+/(-)
Revenues                         1,601,192            1,218,578 31.4% 4,310,795 3,952,791 9.1%
Gross profit 404,624 169,254 139.1% 915,561 882,055 3.8%
Gross profit (%) 25.3% 13.9%   21.2% 22.3%

The Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release.


FORWARD LOOKING STATEMENTS


Certain statements in this release may constitute forward-looking statements. Such forwardlooking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of The Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE Avante Logixx Inc.

For further information:

Leland Verner, Chairman, (416) 923-6984, lelandv@avantesecurity.com
George Rossolatos, Co-CEO, (416) 923-6984, george@avantelogixx.com

Profil de l'entreprise

Avante Logixx Inc.

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