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10.08.2016 08:00:01
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DGAP-News: Advanced Vision Technology Ltd.
DGAP-News: Advanced Vision Technology Ltd.: AVT Reports 18.2% Revenues Increase for Q2 of 2016
Hod-Hasharon, Israel, August 10, 2016 - AVT (Advanced Vision Technology Ltd, Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248), a leader in automatic print inspection, process control, quality assurance and color control for printing applications, saw revenues increase 18.2% in Q2 2016 versus Q2 2015. AVT's second quarter 2016 revenues totaled USD $15.5 million, compared with USD $13.1 million in the same period last year.
Year-over-year revenues also are up for the first half overall: AVT generated USD $27.9 million in revenues over the first six months of 2016, compared to USD $26.1 million in revenues during the same period last year, an increase of 6.8%.
AVT also saw second quarter gains in several other major financial indicators, including new order booking, operating income and net income.
New order booking in the second quarter of 2016 totaled USD $17.3 million, a 20% increase from the USD $14.4 million generated in Q2 2015. New order booking in the first six months of 2016 totaled USD $32.2 million, an increase of 17.9% over the USD $27.3 million for the first half of 2015.
AVT's operating income in the second quarter of 2016 totaled $1.7 million, compared to the $0.9 million in the second quarter of 2015. For the first six months of 2016, operating income totaled USD $1.9 million compared with USD $2.3 million in the first half of 2015.
Net Income in the second quarter of 2016 was $1.8 million, compared to the $0.7 million in the second quarter of 2015. Net income in the first six months of 2016 was USD 1.4 million, or a profit of USD 0.23 per share (diluted), compared with net income of USD 1.5 million, or a profit of USD 0.25 per share (diluted) in the first half of 2015.
AVT's gross margin for the second quarter of 2016 was 52.3% compared with 53.9% in Q2 2015. For the first six months of 2016, gross margin was 51.4% compared with 53.5% in the first half of 2015.
Net cash provided by operating activities increased and totaled USD $3.6 million in the first six months of 2016, compared with USD $0.6 million net cash used in operating activities in the first half of 2015.
According to Jaron Lotan, President & CEO of AVT: "We are pleased with our financial results that reflect both our leadership and the loyalty of our existing customers. We are also starting to see positive results from the investments we are making in new growth engines. During this quarter AVT also received a significant boost from our impressive showing at the quadrennial drupa printing exhibition in early June. This exhibition not only provided ideal sales opportunities, but also allowed AVT to showcase its latest inspection and print quality technologies as well as its partnerships with some of the most prominent names in the industry. Most importantly the exhibition gave us the opportunity to position AVT as the clear leader in terms of its vision for the future of quality management and quality control in the printing industry.
"Moving forward, we're confident that the increase in order booking will spur continued revenue growth throughout the remainder of 2016. We also look forward to another major trade exhibition, LabelExpo Americas, which represents another consolidated opportunity for sales, networking and forging additional value-added partnerships. It also allows AVT to showcase in the North American marketplace the groundbreaking technologies unveiled in Europe at drupa, including a new cloud-based quality standards and automation platform; digital press inspection & control solutions; inline color management solutions; and several new inspection platforms for web and sheet-fed packaging applications."
Highlights for Q2 and first half of 2016:
- Revenues in the second quarter of 2016 totaled USD $15.5 million compared with USD $13.1 million in the second quarter of 2015. Revenues in the first half of 2016 totaled USD $27.9 million, compared with revenues of USD $26.1 million in the first half of 2015.
- New Order Booking in the second quarter of 2016 totaled USD $17.3 million compared with USD $14.4 million in the second quarter of 2015. New Order Booking in the first half of 2016 totaled USD $32.2 million, compared with USD $27.3 million in the first half of 2015.
- Operating Income in the second quarter of 2016 totaled USD $1.7 million compared with USD $0.9 million in the second quarter of 2015. Operating Income in the first half of 2016 totaled USD $1.9 million, compared with USD $2.3 million in the first half of 2015.
- Net Income in the second quarter of 2016 totaled USD $1.8 million compared with USD $0.7 million in the second quarter of 2015. Net Income in the first half of 2016 totaled USD $1.4 million, compared with USD $1.5 million in the first half of 2015.
- Net cash provided by operating activities in the first half of 2016 totaled USD $3.6 million, compared with USD $0.6 million net cash used in operating activities in the first half of 2015.
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.
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 whom we have formed business alliances; timely availability and customer acceptance of our new and existing products, and other factors and risks discussed in our 6 months report for 2016. We assume no obligation to update information concerning our expectations
For further information, please contact: Udi Bar Sela, CFO Advanced Vision Technology Ltd (AVT) Ltd. Phone: +972-9-7614444 Fax: +972-9-7614555 Email: udibs@avt-inc.com
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10.08.2016 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. Archive at www.dgap.de
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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 ---------------------------------------------------------------------------
491029 10.08.2016
DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Half Year Results
Advanced Vision Technology Ltd.: AVT Reports 18.2% Revenues Increase for Q2
of 2016
10.08.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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AVT Reports 18.2% Revenues Increase for Q2 of 2016
- New Order Booking Also Sees Double-Digit Growth
- Company's First Half Revenues up 6.8%
Hod-Hasharon, Israel, August 10, 2016 - AVT (Advanced Vision Technology Ltd, Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248), a leader in automatic print inspection, process control, quality assurance and color control for printing applications, saw revenues increase 18.2% in Q2 2016 versus Q2 2015. AVT's second quarter 2016 revenues totaled USD $15.5 million, compared with USD $13.1 million in the same period last year.
Year-over-year revenues also are up for the first half overall: AVT generated USD $27.9 million in revenues over the first six months of 2016, compared to USD $26.1 million in revenues during the same period last year, an increase of 6.8%.
AVT also saw second quarter gains in several other major financial indicators, including new order booking, operating income and net income.
New order booking in the second quarter of 2016 totaled USD $17.3 million, a 20% increase from the USD $14.4 million generated in Q2 2015. New order booking in the first six months of 2016 totaled USD $32.2 million, an increase of 17.9% over the USD $27.3 million for the first half of 2015.
AVT's operating income in the second quarter of 2016 totaled $1.7 million, compared to the $0.9 million in the second quarter of 2015. For the first six months of 2016, operating income totaled USD $1.9 million compared with USD $2.3 million in the first half of 2015.
Net Income in the second quarter of 2016 was $1.8 million, compared to the $0.7 million in the second quarter of 2015. Net income in the first six months of 2016 was USD 1.4 million, or a profit of USD 0.23 per share (diluted), compared with net income of USD 1.5 million, or a profit of USD 0.25 per share (diluted) in the first half of 2015.
AVT's gross margin for the second quarter of 2016 was 52.3% compared with 53.9% in Q2 2015. For the first six months of 2016, gross margin was 51.4% compared with 53.5% in the first half of 2015.
Net cash provided by operating activities increased and totaled USD $3.6 million in the first six months of 2016, compared with USD $0.6 million net cash used in operating activities in the first half of 2015.
According to Jaron Lotan, President & CEO of AVT: "We are pleased with our financial results that reflect both our leadership and the loyalty of our existing customers. We are also starting to see positive results from the investments we are making in new growth engines. During this quarter AVT also received a significant boost from our impressive showing at the quadrennial drupa printing exhibition in early June. This exhibition not only provided ideal sales opportunities, but also allowed AVT to showcase its latest inspection and print quality technologies as well as its partnerships with some of the most prominent names in the industry. Most importantly the exhibition gave us the opportunity to position AVT as the clear leader in terms of its vision for the future of quality management and quality control in the printing industry.
"Moving forward, we're confident that the increase in order booking will spur continued revenue growth throughout the remainder of 2016. We also look forward to another major trade exhibition, LabelExpo Americas, which represents another consolidated opportunity for sales, networking and forging additional value-added partnerships. It also allows AVT to showcase in the North American marketplace the groundbreaking technologies unveiled in Europe at drupa, including a new cloud-based quality standards and automation platform; digital press inspection & control solutions; inline color management solutions; and several new inspection platforms for web and sheet-fed packaging applications."
Highlights for Q2 and first half of 2016:
- Revenues in the second quarter of 2016 totaled USD $15.5 million compared with USD $13.1 million in the second quarter of 2015. Revenues in the first half of 2016 totaled USD $27.9 million, compared with revenues of USD $26.1 million in the first half of 2015.
- New Order Booking in the second quarter of 2016 totaled USD $17.3 million compared with USD $14.4 million in the second quarter of 2015. New Order Booking in the first half of 2016 totaled USD $32.2 million, compared with USD $27.3 million in the first half of 2015.
- Operating Income in the second quarter of 2016 totaled USD $1.7 million compared with USD $0.9 million in the second quarter of 2015. Operating Income in the first half of 2016 totaled USD $1.9 million, compared with USD $2.3 million in the first half of 2015.
- Net Income in the second quarter of 2016 totaled USD $1.8 million compared with USD $0.7 million in the second quarter of 2015. Net Income in the first half of 2016 totaled USD $1.4 million, compared with USD $1.5 million in the first half of 2015.
- Net cash provided by operating activities in the first half of 2016 totaled USD $3.6 million, compared with USD $0.6 million net cash used in operating activities in the first half of 2015.
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.
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 whom we have formed business alliances; timely availability and customer acceptance of our new and existing products, and other factors and risks discussed in our 6 months report for 2016. We assume no obligation to update information concerning our expectations
For further information, please contact: Udi Bar Sela, CFO Advanced Vision Technology Ltd (AVT) Ltd. Phone: +972-9-7614444 Fax: +972-9-7614555 Email: udibs@avt-inc.com
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10.08.2016 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. Archive at 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 ---------------------------------------------------------------------------
491029 10.08.2016
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