|
01.03.2016 20:06:16
|
DGAP-News: Advanced Vision Technology Ltd.
DGAP-News: Advanced Vision Technology Ltd.: AVT Reports 2015 Financial Results
- Total number of systems shipped increased by 11% compared with 2014
- Revenues totaled USD 51.5 million, compared with revenues of USD 54.1 million in 2014, primarily due to adverse exchange rate effects
- Operating Income totaled USD 4.1 million, compared with USD 5.9 million in 2014
- Net Income totaled USD 2.8 million, compared with USD 4.6 million in 2014
- Extra-ordinary dividend of $0.75 per share has been announced
Hod-Hasharon, Israel, March 1, 2016 - AVT (Advanced Vision Technology Ltd, Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248), a leading provider of process control, quality assurance and color control solutions for the printing industry, announced today financial results for the fourth quarter and the fiscal year ended December 31, 2015.
Revenues in 2015 totaled USD 51.5 million, 4.8% lower than the USD 54.1 million generated in 2014. In terms of 2014 Euro exchange rates, 2015 revenues would have been USD 55.1 million. Euro based revenues in 2015 constituted 40% of total revenues.
New order booking in 2015 totaled USD 57.6 million representing an increase of 9% compared with order booking of USD 52.9 million in 2014. The negative impact of the stronger U.S. Dollar vs. other currencies in 2015, as compared with 2014, on the order booking was in the amount of approximately USD 3.5 million.
Gross margin in 2015 was 52.6% compared with 52.3%, in 2014. On a Non-GAAP basis, gross margin in 2015 was 53.1% vs. 52.69% in 2014
Operating income in 2015 totaled USD 4.1 million with operating income of USD 5.9 million in 2014. On a Non-GAAP basis, operating income in 2015 totaled USD 4.7 million vs. USD 6.5 million in 2014.
Net income in 2015 was USD 2.8 million or a profit of USD 0.45 per share (diluted) compared with net income of USD 4.6 million or a profit of USD 0.76 per share (diluted) in 2014. On a Non-GAAP basis, net income in 2015 was USD 3.5 million or a profit of USD 0.58 per share (diluted) vs. net income of USD 5.1 million or a profit of USD 0.84 per share (diluted) in 2014.
Dividend Distribution In light of the Company's level of cash reserves the board of directors has resolved to distribute an extra-ordinary gross dividend of $0.75 per share. The record date for the distribution will be March 17th, 2016; the ex-dividend date will be March 18st, and the payment date will be March 22nd. The tax withholding rate will be approximately 20%.
Jaron Lotan, President and CEO of AVT commented: "The past year was a challenging year for AVT. Although we were able to grow new order booking and unit sales, our results for the year were less than our expectations. Our order booking growth was driven by the label and packaging segments, as well as good contribution from our new solutions and initiatives: Metal sheet and digital applications. This past year we dedicated significant attention and resources to the implementation of our new growth engines and new strategies. Some of our bookings in 2015 already reflect these new initiatives, such as bookings for our digital solutions and for new software offerings sold on a subscription basis. Our alliance with E&L has contributed to a stronger offering to our label customers and we are starting to see sales to the corrugated converters - an opportunity that has opened to us through the E&L cooperation."
In 2015, AVT also made good progress in creating new alliances with Press manufacturers in both narrow web and packaging segments that should start to show results in 2016.
Strategically, the company's multi-year plan will begin to unfold in 2016 with new solutions for automation and increased efficiencies as well as improved color management and control. These directions will allow AVT to grow both in terms of revenues and profitability in 2016 and in the years to come.
About AVT
AVT (Advanced Vision Technology, Ltd) is a leading provider of print process control, quality assurance and color control solutions for the printing industry. AVT offers inspection and process control solutions for Packaging, Labels, Folding Cartons and Metal Decorating applications. Today, more than 4000 AVT automatic inspection systems for packaging and labels are installed worldwide. As a premier supplier of color control solutions for offset printing, AVT has over 800 of its closed loop color control systems, and over 3,300 color management and reporting software and remote digital ink fountain control systems installed around the world. AVT's products are sold to leading printing press and finishing equipment manufacturers as well as to packaging, labels commercial and specialty printers, both in web and sheet printing, worldwide. AVT's headquarters are located in Hod-Hasharon, Israel with sales, marketing, 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.
Please visit the AVT website: www.avt-inc.com
Safe Harbor Statements
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, 2015. We assume no obligation to update information concerning our expectations.
For further information, please contact: Udi Bar Sela, CFO AVT Ltd. Phone: +972-9-7614444 Fax: +972-9-7614555 Email: udibs@avt-inc.com
---------------------------------------------------------------------------
01.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English Company: Advanced Vision Technology Ltd. Hanagar 6 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
441805 01.03.2016
DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Final Results
Advanced Vision Technology Ltd.: AVT Reports 2015 Financial Results
01.03.2016 / 20:06
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
AVT Reports 2015 Financial Results
Highlights for 2015:
- New Order Booking totaled USD 57.6 million, compared with USD 52.9
million in 2014, an increase of 9%
- Total number of systems shipped increased by 11% compared with 2014
- Revenues totaled USD 51.5 million, compared with revenues of USD 54.1 million in 2014, primarily due to adverse exchange rate effects
- Operating Income totaled USD 4.1 million, compared with USD 5.9 million in 2014
- Net Income totaled USD 2.8 million, compared with USD 4.6 million in 2014
- Extra-ordinary dividend of $0.75 per share has been announced
Hod-Hasharon, Israel, March 1, 2016 - AVT (Advanced Vision Technology Ltd, Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248), a leading provider of process control, quality assurance and color control solutions for the printing industry, announced today financial results for the fourth quarter and the fiscal year ended December 31, 2015.
Revenues in 2015 totaled USD 51.5 million, 4.8% lower than the USD 54.1 million generated in 2014. In terms of 2014 Euro exchange rates, 2015 revenues would have been USD 55.1 million. Euro based revenues in 2015 constituted 40% of total revenues.
New order booking in 2015 totaled USD 57.6 million representing an increase of 9% compared with order booking of USD 52.9 million in 2014. The negative impact of the stronger U.S. Dollar vs. other currencies in 2015, as compared with 2014, on the order booking was in the amount of approximately USD 3.5 million.
Gross margin in 2015 was 52.6% compared with 52.3%, in 2014. On a Non-GAAP basis, gross margin in 2015 was 53.1% vs. 52.69% in 2014
Operating income in 2015 totaled USD 4.1 million with operating income of USD 5.9 million in 2014. On a Non-GAAP basis, operating income in 2015 totaled USD 4.7 million vs. USD 6.5 million in 2014.
Net income in 2015 was USD 2.8 million or a profit of USD 0.45 per share (diluted) compared with net income of USD 4.6 million or a profit of USD 0.76 per share (diluted) in 2014. On a Non-GAAP basis, net income in 2015 was USD 3.5 million or a profit of USD 0.58 per share (diluted) vs. net income of USD 5.1 million or a profit of USD 0.84 per share (diluted) in 2014.
Dividend Distribution In light of the Company's level of cash reserves the board of directors has resolved to distribute an extra-ordinary gross dividend of $0.75 per share. The record date for the distribution will be March 17th, 2016; the ex-dividend date will be March 18st, and the payment date will be March 22nd. The tax withholding rate will be approximately 20%.
Jaron Lotan, President and CEO of AVT commented: "The past year was a challenging year for AVT. Although we were able to grow new order booking and unit sales, our results for the year were less than our expectations. Our order booking growth was driven by the label and packaging segments, as well as good contribution from our new solutions and initiatives: Metal sheet and digital applications. This past year we dedicated significant attention and resources to the implementation of our new growth engines and new strategies. Some of our bookings in 2015 already reflect these new initiatives, such as bookings for our digital solutions and for new software offerings sold on a subscription basis. Our alliance with E&L has contributed to a stronger offering to our label customers and we are starting to see sales to the corrugated converters - an opportunity that has opened to us through the E&L cooperation."
In 2015, AVT also made good progress in creating new alliances with Press manufacturers in both narrow web and packaging segments that should start to show results in 2016.
Strategically, the company's multi-year plan will begin to unfold in 2016 with new solutions for automation and increased efficiencies as well as improved color management and control. These directions will allow AVT to grow both in terms of revenues and profitability in 2016 and in the years to come.
About AVT
AVT (Advanced Vision Technology, Ltd) is a leading provider of print process control, quality assurance and color control solutions for the printing industry. AVT offers inspection and process control solutions for Packaging, Labels, Folding Cartons and Metal Decorating applications. Today, more than 4000 AVT automatic inspection systems for packaging and labels are installed worldwide. As a premier supplier of color control solutions for offset printing, AVT has over 800 of its closed loop color control systems, and over 3,300 color management and reporting software and remote digital ink fountain control systems installed around the world. AVT's products are sold to leading printing press and finishing equipment manufacturers as well as to packaging, labels commercial and specialty printers, both in web and sheet printing, worldwide. AVT's headquarters are located in Hod-Hasharon, Israel with sales, marketing, 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.
Please visit the AVT website: www.avt-inc.com
Safe Harbor Statements
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, 2015. We assume no obligation to update information concerning our expectations.
For further information, please contact: Udi Bar Sela, CFO AVT Ltd. Phone: +972-9-7614444 Fax: +972-9-7614555 Email: udibs@avt-inc.com
---------------------------------------------------------------------------
01.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English Company: Advanced Vision Technology Ltd. Hanagar 6 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service ---------------------------------------------------------------------------
441805 01.03.2016
Der finanzen.at Ratgeber für Aktien!
Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!
Nachrichten zu Advanced Vision Technology Ltd.mehr Nachrichten
| Keine Nachrichten verfügbar. |
Analysen zu Advanced Vision Technology Ltd.mehr Analysen
ETF-Sparplan
Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.