Hod-Hasharon, Israel, May 14, 2007 - Advanced Vision Technology Ltd., the world’s leading provider of automatic optical inspection and quality assurance systems for the printing and packaging industry, completed Q1 2007 with sales up 15% to USD 7.8 million over the same period in 2006 (USD 6.8 million), and up 6% over Q4 2006 (USD 7.4 million).
Profitability for the quarter was up 24.7% at USD 1.53 million (USD 1.23 million for the same period in 2006).
Order bookings for Q1 2007 were up sharply at USD 10.04 million, an increase of 55% over Q1 2006 (USD 6.48 million). AVT’s order backlog as of March 31, 2007 totalled USD 11.67 million, an increase of 38% over the same period in 2006 (USD 8.4 million).
Revenues from maintenance, service and training increased to USD 566 thousand in the first three months of 2007, an increase of 45% over Q1 2006.
AVT’s commitment to research and development continues with 28% of personnel working in R&D.
“These results are gratifying,” said Shlomo Amir, President and CEO. “Increasing demands for high quality packaging and labels from international brands makes printers realize the many benefits of our automatic inspection solutions. These demands will continue for the foreseeable future and are expected to sustain sales of our solutions.”
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