Advant-e Corporation Announces Record Revenue and Net Income for 2005

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

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Company Reports 24% Increase in Revenue, 28% Increase in Net Income over Prior Year DAYTON, Ohio, Feb. 16 /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 year ending December 31, 2005. In 2005 the Company reported record revenues of $4,462,702 compared to $3,600,732 for 2004. The 24% increase in revenue is attributed to the continued expansion and market acceptance of the Company's Internet-based business-to-business electronic commerce subscription services. Net income for 2005 was a record $600,318 or $.09 per share compared to $469,323 or $.08 per share ($.07 per share fully diluted) in 2004. For the fourth quarter of 2005 the Company reported revenue of $1,203,771 and net income of $209,994 or $.03 per share, compared to revenue of $990,077 and net income of $127,111 or $.02 per share ($.01 per share fully diluted) in the fourth quarter of 2004. Highlights of 2005 financial and operating results include: - Revenue Increase for the fifth consecutive year -- Continued strong acceptance of core Web EDI services to small and medium size suppliers of large grocery and general merchandise retailers, automotive manufacturers, and other large buying organizations - Automotive Web EDI Revenue Acceleration -- Automotive Web EDI revenue comprised 4% of total revenue in 2005 compared to a nominal amount in 2004 - EnterpriseEC(R) Revenue Growth of 45% -- Trading Community Connectivity and Management Solution accounted for 11% of revenue in 2005 compared to 9% in 2004 - Net Income Increase of 28% -- Net Income benefited from lower amortization of software development costs in 2005 of $217,780 compared to $332,430 in 2004 - Cash and Short-term Investments increased 111% -- Increase to $1,989,337 in 2005 from $944,892 in 2004. Allowing for income taxes for 2005 which are payable in 2006 cash and short-term investments increased 71% over 2004. - Shareholders Equity Increased 51% -- From $1,332,840 in 2004 to $2,014,953 in 2005 - Pre-Tax Profit of 21% -- Exceeded 20% for second consecutive year Commenting on the year-end results, Mr. Jason K. Wadzinski, CEO of Advant- e stated, "Our primary goal in 2005 was to achieve 20% pre-tax profit while growing revenue at an acceptable level. I would like to thank the dedicated Edict Systems team for exceeding this goal. Our secondary goal for 2005 was to diversify the markets we serve. Our entry into the Automotive supply chain with our Web EDI services for suppliers to large OEM's along with our suite of trading community ramping services is proving to be successful. We hope to continue to grow this segment of our business as well as expand into other industries." "We are very excited about our future opportunities," continued Mr. Wadzinski. "Now that our financial base is solid, our top priority for the coming years is accelerated revenue growth through expansion of existing offerings, new products and services, and increased sales and marketing efforts. In support of this goal, we plan on increasing our investment in infrastructure, new product development, and sales and marketing related costs. While this will likely reduce our short-term profitability, we are confident that we can leverage our industry-leading position to bring new value-added services to our existing and new customers." As a result, the Company's management offers the following guidance: - Revenue growth goal of 24-28% in 2006 - Significant increase in capital spending on infrastructure, new product development, and intensified sales and marketing efforts - Pre-tax profit goal of 14-18% - Continued expansion in core retail/grocery business and accelerated growth in automotive, consumer durables and consumer packaged goods markets 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 STATEMENTS OF INCOME Three Months Ended Year Ended December 31, December 31, 2005 2004 2005 2004 Revenue $1,203,771 990,077 4,462,702 3,600,732 Cost of revenue 368,486 325,474 1,511,007 1,239,179 Gross margin 835,285 664,603 2,951,695 2,361,553 Marketing, general and administrative expenses 539,793 440,492 2,010,911 1,562,621 Operating income 295,492 224,111 940,784 798,932 Other Income (expense), net 4,602 --- 9,734 (2,209) Income before taxes 300,094 224,111 950,518 796,723 Income tax expense 90,100 97,000 350,200 327,400 Net income $209,994 127,111 600,318 469,323 Basic earnings per share $0.03 0.02 0.09 0.08 Diluted earnings per share $0.03 0.01 0.09 0.07 Weighted average shares outstanding 6,403,174 6,244,917 6,325,218 6,244,917 Weighted average shares outstanding, assuming dilution 6,408,788 6,461,143 6,340,851 6,587,285 ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS December 31, December 31, 2005 2004 Assets Current Assets Cash and cash equivalents $1,763,435 944,892 Short-term investments 225,902 --- Accounts receivable, net 351,482 290,394 Prepaid expenses and deposit 25,128 26,420 Total current assets 2,365,947 1,261,706 Software development costs, net 160,656 298,809 Property and equipment, net 262,523 271,604 Total assets 2,789,126 1,832,119 Liabilities and Shareholders' Equity Current liabilities Accounts payable 44,838 39,681 Accrued salaries and other expenses 115,510 99,810 Income taxes payable 375,652 26,000 Deferred income taxes 26,000 --- Deferred revenue 76,173 142,788 Total current liabilities 638,173 308,279 Deferred income taxes 136,000 191,000 Total liabilities 774,173 499,279 Shareholders' equity Common stock, $.001 par value; 20,000,000 shares authorized; 6,403,714 outstanding at December 31, 2005 and 6,244,917 outstanding at December 31, 2004 6,403 6,245 Paid-in capital 1,551,606 1,475,584 Accumulated other comprehensive income 5,615 --- Retained earnings (deficit) 451,329 (148,989) Total shareholders' equity 2,014,953 1,332,840 Total liabilities and shareholders' equity $2,789,126 1,832,119 ADVANT-E CORPORATION AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOW Year Ended December 31, 2005 2004 Cash flows from operating activities: Net income $600,318 469,323 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation 110,721 80,637 Amortization of software development costs 217,780 332,430 Deferred income taxes (32,800) 301,400 Net realized losses on available-for-sale investments 2,222 --- Increase (decrease) in cash arising from changes in assets and liabilities: Accounts receivable (61,087) (74,499) Prepaid expenses 1,291 (10,233) Accounts payable 5,157 (32,491) Accrued salaries and other expenses 15,700 27,943 Income taxes payable 349,652 26,000 Deferred revenue (66,615) 51,857 Net cash flows from operating activities 1,142,339 1,172,367 Cash flows from investing activities: Purchases of available-for-sale investments (253,877) --- Proceeds from sale of available-for-sale investments 35,168 --- Purchases of equipment (101,640) (183,554) Software development costs (79,627) (149,561) Net cash flows from investing activities (399,976) (333,115) Cash flows from financing activities: Issuance of common stock 91,500 --- Payments on notes --- (94,965) Payments of direct costs of securities registration (15,320) (15,843) Net cash flows from financing activities 76,180 (110,808) Net increase in cash and cash equivalents 818,543 728,444 Cash and cash equivalents, beginning of period 944,892 216,448 Cash and cash equivalents, end of period $ 1,763,435 944,892 Supplemental disclosures of cash flow items: Interest paid $--- 3,042 Income taxes paid $33,348 --- 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 or 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. First Call Analyst: FCMN Contact: DATASOURCE: Advant-e Corporation CONTACT: Investor Relations of Advant-e Corporation, +1-937-429-4288, or Web site: http://www.advant-e.com/ http://www.edictsystems.com/

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AVEE Avantis Emerging Markets Small Cap Equity ETF