Advant-e Corporation Announces Second Quarter 2007 Results and Share Repurchase Program

Name	Symbol	Market	Type
Avantis Emerging Markets Small Cap Equity ETF	AMEX:AVEE	AMEX	Exchange Traded Fund

	Price Change	% Change	Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.161	0.30%	53.2365	53.40	53.19	53.19	7,045	21:15:02

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Company Reports 11% Increase in Revenue and 5% Net Income Growth over Q2 2006 DAYTON, Ohio, Aug. 9 /PRNewswire-FirstCall/ -- Advant-e Corporation (OTC:AVEE) (BULLETIN BOARD: AVEE) , a provider of Internet-based Electronic Data Interchange and electronic document management software and services today announced financial and operating results for the quarter ending June 30, 2007. For the second quarter of 2007 the Company reported revenues of $1,481,150, an 11% increase over revenues of $1,333,758 in the second quarter of 2006. The increase in revenue is attributable primarily to continued growth of the Company's Web EDI services along with growth of EnterpriseEC(R), the Company's electronic trading community connectivity and integration service. Net income for the second quarter of 2007 was $241,573, or $.04 per share, a 5% increase over net income of $230,855, or $.03 per share for the same period in 2006. Net income increased 84% over the first quarter of 2007. Jason K. Wadzinski, Chairman and Chief Executive Officer, remarked, "While our primary focus is on growing our top-line revenue, we are also committed to maintaining what we consider an appropriate level of profitability. Our net income increase over last quarter puts us back in an acceptable range and we will continue to monitor our expenses to make sure they are in line with our goals and objectives." The Company also announced that its Board of Directors has authorized a share repurchase program for up to $750,000 in fair market value of Advant-e common stock. The shares may be purchased from time to time through June 30, 2008 on the open market or in privately negotiated transactions. About Advant-e Corporation Advant-e, via its wholly owned subsidiaries Edict Systems, Inc. and Merkur Group, Inc is a provider of internet-based Electronic Data Interchange (EDI) and electronic document management software and services. The Company helps businesses automate manual, paper-intensive processes via expanded use of EDI or by integrating directly with ERP/MRP systems. Additional information about Advant-e Corporation can be found at http://www.advant-e.com/, http://www.edictsystems.com/, and http://www.merkurgroup.com/, or by contacting investor relations at (937) 429-4288. The company's email is . ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2007 2006 2007 2006 Revenue $1,481,150 1,333,758 2,897,473 2,595,927 Cost of revenue 482,776 369,661 991,344 777,529 Gross margin 998,374 964,097 1,906,129 1,818,398 Marketing, general and administrative expenses 641,471 614,066 1,354,949 1,209,921 Operating income 356,903 350,031 551,180 608,477 Other income, net 32,587 15,414 55,255 32,389 Income before taxes 389,490 365,445 606,435 640,866 Income tax expense 147,917 134,590 233,717 242,305 Net income $241,573 230,855 372,718 398,561 Basic earnings per share $0.04 0.03 0.06 0.06 Diluted earnings per share $0.04 0.03 0.06 0.06 Weighted average shares outstanding 6,478,714 6,403,174 6,478,714 6,403,174 Weighted average shares outstanding, assuming dilution 6,478,714 6,434,196 6,478,714 6,428,439 ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED CONDENSED BALANCE SHEETS June 30, December 31, 2007 2006 (Unaudited) Assets Current Assets: Cash and cash equivalents $2,639,780 2,209,782 Short-term investments 275,726 274,434 Accounts receivable, net 432,193 477,639 Prepaid expenses and deposit 32,758 28,339 Total current assets 3,380,457 2,990,194 Software development costs, net 235,130 247,621 Property and equipment, net 379,428 386,697 Total assets $3,995,015 3,624,512 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $59,642 66,936 Accrued salaries and other expenses 177,455 157,802 Income taxes payable 110,066 109,642 Deferred income taxes 50,039 53,119 Deferred revenue 116,116 112,846 Total current liabilities 513,318 500,345 Deferred income taxes 150,596 165,784 Total liabilities 663,914 666,129 Shareholders' equity: Common stock, $.001 par value; 20,000,000 shares authorized; 6,478,714 issued and outstanding 6,478 6,478 Paid-in capital 1,641,906 1,641,906 Retained earnings 1,682,717 1,309,999 Total shareholders' equity 3,331,101 2,958,383 Total liabilities and shareholders' equity $3,995,015 3,624,512 ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Six Months Ended June 30, 2007 2006 Cash flows from operating activities: Net income $372,718 398,561 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation 100,219 61,746 Amortization of software development costs 27,854 63,088 Loss on disposal of assets - 24,221 Deferred income taxes (18,268) 63,678 Purchases of trading securities (107,507) - Proceeds from sales of trading securities 125,968 - Net unrealized gain on trading securities (6,376) - Net realized gain on sale of securities (13,377) (9,005) Increase (decrease) in cash arising from changes in assets and liabilities: Accounts receivable 45,446 (81,003) Prepaid expenses (4,419) (15,217) Accounts payable (7,294) 16,171 Accrued salaries and other expenses 19,653 52,461 Income taxes payable 424 (359,833) Deferred revenue 3,270 17,962 Net cash flows from operating activities 538,311 232,830 Cash flows from investing activities: Purchases of available-for-sale securities - (56,943) Proceeds from sale of available-for-sale securities - 59,242 Purchases of property and equipment (92,950) (154,468) Software development costs (15,363) (137,049) Net cash flows from investing activities (108,313) (289,218) Net increase (decrease) in cash and cash equivalents 429,998 (56,388) Cash and cash equivalents, beginning of period 2,209,782 1,763,435 Cash and cash equivalents, end of period $2,639,780 1,707,047 Supplemental disclosures of cash flow items: Income taxes paid $251,561 559,000 The information in this news release includes certain forward looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. Although the company believes that the expectations reflected on its forward looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties. DATASOURCE: Advant-e Corporation CONTACT: Investor Relations of Advant-e Corporation , +1-937-429-4288, Web site: http://www.advant-e.com/ http://www.edictsystems.com/ http://www.merkurgroup.com/

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AVEE Avantis Emerging Markets Small Cap Equity ETF