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Profitability Up In Second Quarter At AVT

Tuesday, August 01, 2006

Press release from the issuing company

Hod-Hasharon, Israel, July 31, 2006 - Advanced Vision Technology Ltd., the world's leading supplier of automatic optical inspection and quality assurance systems for the printing and packaging industry, announced sales for Q2 2006 of US$ 7.0 million, 13% above same period in 2005, and up 3% over Q1 2006. Net income for the quarter rose 52.9% to US$ 1.7 million (US$ 1.1 million for the same period in 2005). Net income for the first six months of 2006 rose by 58.4% to US$ 2.9 million (US$ 1.8 million for the same period in 2005). New order bookings for Q2 2006 totalled US$ 6 million, making a six-month total of US$ 12.5 million. Solid growth was recorded in Europe and the Americas while new order booking in Southeast Asia was soft. "AVT's continued growth is proof that the solutions we offer packaging and labels printers and converters are the ones that most fully meet their requirements," said Shlomo Amir, AVT's President and CEO. "The steady growth of our profitability is the result of increasing sales and income from service contracts as the number of installations grows," Shlomo Amir continued. Service revenues for the first six months of 2006 grew to US$ 849 thousand, up 55.2% over the same period of 2005. AVT's commitment to, and investment in, research and development continues. As a result of these activities, more than 1300 systems are now installed worldwide. "The combination of process control and quality assurance provided by AVT solutions is now widely recognized as driving bottom-line profits at printing companies through savings in time, waste and job rejections," Shlomo Amir concluded.




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