Advant-e Corporation Announces First Quarter 2007 Results

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
	-0.4709	-0.86%	54.1929	54.328	54.20	54.20	2,099	20:15:02

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Company Reports 12% Increase in Revenue over Q1 2006 and 15th Consecutive Profitable Quarter DAYTON, Ohio, May 14 /PRNewswire-FirstCall/ -- Advant-e Corporation (OTC:AVEE) (BULLETIN BOARD: AVEE) , a provider of Internet-based business-to-business electronic commerce services, today announced financial and operating results for the quarter ending March 31, 2007. For the first quarter of 2007 the Company reported revenues of $1,416,323, a 12% increase over revenues of $1,262,169 in the first 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 quarter was $131,145, or $.02 per share, a 22% decline over net income of $167,706, or $.03 per share for the same period in 2006. The decline in net income is attributable primarily to less-than-anticipated revenue growth insufficient to offset higher technical and sales personnel costs, marketing expenses, and reduced capitalized software development costs. Jason K. Wadzinski, Chairman and Chief Executive Officer, remarked, "The first quarter of 2007 marks the 15th consecutive quarter that the Company reported positive earnings. Our revenue growth rate, however, is less than our recent historical growth rates when comparing each quarter in 2004 through 2006 to the comparable quarter of the prior year. Our strategy of extending outside of our strong grocery industry presence is working, but at a slower rate than anticipated. We are re-evaluating our sales and marketing initiatives so that in the 2nd half of 2007 we can accelerate our revenue growth while maintaining an acceptable level of profitability." About Advant-e Corporation Advant-e, via its wholly owned and sole operating subsidiary Edict Systems, Inc., is a provider of Business-to-Business electronic commerce software and Internet-based applications specializing in Electronic Data Interchange (EDI) and XML-based solutions for recurring transactions. Advant-e specializes in horizontal transaction services via EnterpriseEC(R), an Internet-based Trading Community Connectivity and Management Solution, and within specific industries via web-based EDI services including http://www.groceryec.com/, http://www.retailec.com/, http://www.automotiveec.com/, http://www.mfgec.com/ and http://www.cpgsupplier.com/. In addition to Internet and web-based e-commerce solutions, Edict Systems also provides e-commerce integration and bar coding applications. Additional information about Advant-e Corporation can be found at http://www.advant-e.com/ and http://www.edictsystems.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 March 31, 2007 2006 Revenue $1,416,323 1,262,169 Cost of revenue 508,568 407,868 Gross margin 907,755 854,301 Marketing, general and administrative expenses 713,478 595,855 Operating income 194,277 258,446 Other income, net 22,668 16,975 Income before taxes 216,945 275,421 Income tax expense 85,800 107,715 Net income $131,145 $167,706 Basic earnings per share $0.02 0.03 Diluted earnings per share $0.02 0.03 Weighted average shares outstanding 6,478,714 6,403,174 Weighted average shares outstanding, assuming dilution 6,478,714 6,426,009 ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED CONDENSED BALANCE SHEETS March 31, 2007 December 31, (Unaudited) 2006 Assets Current Assets: Cash and cash equivalents $2,313,287 2,209,782 Short-term investments 275,846 274,434 Accounts receivable, net 448,948 477,639 Prepaid expenses and deposit 56,470 28,339 Total current assets 3,094,551 2,990,194 Software development costs, net 244,896 247,621 Property and equipment, net 381,010 386,697 Total assets $3,720,457 3,624,512 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $79,449 66,936 Accrued salaries and other expenses 125,791 157,802 Income taxes payable 69,409 109,642 Deferred income taxes 74,430 53,119 Deferred revenue 116,344 112,846 Total current liabilities 465,423 500,345 Deferred income taxes 165,506 165,784 Total liabilities 630,929 666,129 Shareholders' equity: Common stock, $.001 par value; 20,000,000 shares authorized; 6,478,714 outstanding 6,478 6,478 Paid-in capital 1,641,906 1,641,906 Retained earnings 1,441,144 1,309,999 Total shareholders' equity 3,089,528 2,958,383 Total liabilities and shareholders' equity $3,720,457 3,624,512 ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended March 31, 2007 2006 Cash flows from operating activities: Net income $131,145 167,706 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation 48,487 29,553 Amortization of software development costs 18,088 32,383 Loss on disposal of assets ---- 24,221 Deferred income taxes 21,033 35,723 Purchases of trading securities (74,483) ---- Proceeds from sales of trading securities 79,679 ---- Net realized gains on sales of securities (6,608) (4,241) Increase (decrease) in cash arising from changes in assets and liabilities: Accounts receivable 28,691 (48,874) Prepaid expenses (28,131) 3,288 Accounts payable 12,513 19,694 Accrued salaries and other expenses (32,011) 16,796 Income taxes payable (40,233) (298,008) Deferred revenue 3,498 27,426 Net cash flows from operating activities 161,668 5,667 Cash flows from investing activities: Purchases of available-for-sale securities ---- (35,545) Proceeds from sale of available-for-sale securities ---- 36,914 Purchases of equipment (42,800) (28,697) Software development costs (15,363) (69,649) Net cash flows from investing activities (58,163) (96,977) Net increase (decrease) in cash and cash equivalents 103,505 (91,310) Cash and cash equivalents, beginning of period 2,209,782 1,763,435 Cash and cash equivalents, end of period $2,313,287 1,672,125 Supplemental disclosures of cash flow items: Income taxes paid $105,000 370,000 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, or Web site: http://www.advant-e.com/

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AVEE Avantis Emerging Markets Small Cap Equity ETF