AVVA Technologies announces financial results.TECHNOLOGIES (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : AVY) AVVA Technologies Inc., expects to close part of its current equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. prior to September 8, 1995. The company plans to raise these funds from institutional sources. Sales have increased 154% over the previous quarter. AVVA reported revenues and an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. for its third fiscal quarter in the amount of $284,776 and ($404,793) respectively. Year to date sales are $465,689. The company reported a loss of ($0.03) per share for its third fiscal quarter and a year to date lost of ($0.07) per share. The increase in sales is reflective Refers to light hitting an opaque surface such as a printed page or mirror and bouncing back. See reflective media and reflective LCD. of increased market exposure and product awareness. The gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. is reduced as a result of a large number of prototype and demonstration signs. The year to date operating loss of ($989,467) is reflective of increased expenditures in marketing and infrastructure costs. These costs will continue to increase as the company expands its sales and marketing efforts to further enhance market awareness. AVVA has 5 of the top 15 Food Service Operators in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. currently evaluating its signage proposals. AVVA is also working closely with several large international companies regarding their signage needs. Confidentiality agreements refrain us from discussing them at this time. The potential from these large corporations, is combined with growing interest from a variety of companies with less than 1000 outlets. Many of these organizations are poised for rapid growth and AVVA plans to grow with them as the sign supplier of choice. AVVA manufactures a new illuminated il·lu·mi·nate v. il·lu·mi·nat·ed, il·lu·mi·nat·ing, il·lu·mi·nates v.tr. 1. To provide or brighten with light. 2. To decorate or hang with lights. 3. style of energy efficient edge-lit signs. AVVA's design flexibility and high quality appearance, positions the company to market products for institutional, corporate, retail and home application. -0- Note to Editors: The Alberta Stock Exchange neither approves nor disapproves of the information contained herein. CONTACT: AVVA Technologies Mark Komonoski, 403/252-6047 or 800/665-3749 |
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