Advanced Vision Technology Ltd. / Half Year Results/Quarter Results
05.08.2010 07:33
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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AVT: 2nd quarter 2010
- Revenues of USD 9.8 million in Q2 2010 (+8.3% over Q2 2009)
- Positive net income in Q2 2010
- Increase of EBIT to USD 0.5 million in Q2 2010
- Order booking to revenues ratio reached 106.0%
Hod-Hasharon/Israel, August 5th, 2010 - Advanced Vision Technology Ltd.,
the worldwide leader in machine-vision based automatic inspection and
closed loop color control for the printing industry, continued improving
its business environment on a respectable level in the second quarter of
2010.
AVT's revenues in the second quarter of 2010 totaled USD 9.8 million
representing an increase of 8.3% over the revenues in Q2 of 2009 and
unchanged from the first quarter of 2010. Revenues in the first six months
of 2010 were USD 19.6 million, an increase of 2.6% compared with revenues
of USD 19.1 million in the first six months of 2009.
A clear sign of an increasing demand shows the growth of the product
revenues in the first six month 2010 with USD 15.7 million compared to USD
14.0 million in the first six month 2009, representing an increase of
11.7%. AVT product line revenues in the first six months of 2010 were USD
13.8 million, an increase of 35.8% from revenues of USD 10.2 million in the
first half year 2009. Service revenues in the first six months of 2010
totaled USD 3.9 million a decrease of 22.8% from revenues of USD 5.1
million in the first six months of 2009. GMI product line revenues in the
first six months of 2010 were USD 5.8 million, a decrease of 35.3% from
revenues of USD 8.9 million in the first six months 2009.The decrease in
service revenues is attributable primarily as consequence of the financial
crisis and to the lower level of GMI installation revenues recognized
during the first half of 2010.
In Q2 2010 AVT managed to recover a net income of USD 0.01 million compared
with a loss of USD 0.7 million in Q2 2009. Net loss for the six month
periods ended June 30, 2010 was USD 0.3 million or loss of USD 0.05 per
share (diluted) shows a clear amelioration of 86.9% compared with a loss of
USD 2.2 million or USD 0.42 per share (diluted) for the first half year of
2009.
In line with the revenues growth and tightly cost control of the operating
costs, AVT's profitability clearly improved. Earnings before interests and
taxes (EBIT) increased to USD 0.5 million in the first six months of 2010
compared to a loss of USD 2.0 million in the first half year of 2009. EBIT
in Q2 2010 were USD 0.5 million compared with a loss of USD 1.0 million in
Q2 2009. EBITDA in the first six months of 2010 were USD 1.0 million
compared to EBITDA of USD -1.1 million in the first six months of 2009.
The ratio of order booking to revenues in Q2 2010 was 106.0% marking the
third successive quarter in which order booking exceeded revenues. During
the first six months order booking totaled USD 20.4 million representing an
increase of 21.7% over the first half year 2009 order booking of USD 16.8
million.
The Management Board
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Information and Explaination of the Issuer to this News:
About AVT and GMI
Advanced Vision Technology (AVT) develops and manufactures automatic
inspection systems for web applications in the packaging, labels, forms and
converting sectors. Today, more than 2,100 PrintVision systems are
installed worldwide. On October 1, 2007, the Company completed the purchase
of all outstanding shares of GMI and the related intellectual property.
Graphic Microsystems, Inc, (GMI) is the world's premier supplier of closed
loop colour control systems with over 850 installations, and of colour
management and reporting software and remote digital ink fountain control
systems with over 3,140 systems installed. The company's products are sold
to leading commercial, semi-commercial, newspaper and specialty printers in
the heatset and coldset web printing markets as well as to printing press
OEMs worldwide.
AVT's headquarters located in Hod-Hasharon, Israel with manufacturing
facilities in Israel and the United States and, marketing, sales and
support offices in the United States, Europe and China. AVT is a public
company listed in the Prime Standard of the Frankfurt Stock Exchange.
Safe Harbor Statement
Certain statements in this press release are forward-looking statements.
Because such statements deal with future events, they are subject to
various risks and uncertainties and actual results could differ materially
from our current expectations. Factors that could cause or contribute to
such differences include, but are not limited to: the impact on revenues of
economic and political uncertainties and weaknesses in various regions of
the world, including the commencement or escalation of hostilities or acts
of terrorism; any unforeseen developmental or technological difficulties
with regard to our products; changes in the competitive landscape,
including new competitors or the impact of competitive pricing and
products; a shift in demand for products such as ours; unknown factors
affecting third parties with which we have formed business alliances;
timely availability and customer acceptance of our new and existing
products, and other factors and risks discussed in our Annual Report for
the year ended December 31, 2009. We assume no obligation to update
information concerning our expectations.
Contact:
Nadav Yassour, CFO
AVT Ltd.
Phone: +972-9-7614444
Fax: +972-9-7614555
Email: nadavy@avt-inc.com
Frank Ostermair
Better Orange IR + HV
Phone: +49-89-8896906 14
Fax: +49-89-8896906 66
Email: info@better-orange.de
05.08.2010 07:33 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Advanced Vision Technology Ltd.
Hanagar 5
45241 Neve Ne'eman, Hod Hasharon
Israel
Phone: +972 9 761-4444
Fax: +972 9 761-4555
E-mail: IR@avt-inc.com
Internet: www.avt-inc.com
ISIN: IL0010837248
WKN: 931340
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Advanced Vision Technology Ltd.: 2nd quarter 2010
| Source: EQS Group AG