DGAP-News: Advanced Vision Technology Ltd.: AVT Reports 2010 Financial Results - Back to growth and profits
(firmenpresse) - DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Preliminary
Results/Results Forecast
Advanced Vision Technology Ltd.: AVT Reports 2010 Financial Results -
Back to growth and profits
10.02.2011 / 10:37
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AVT Reports 2010 Financial Results:
Back to growth and profits
Highlights for 2010
* AVT returns to profit - net income totaled $ 0.6 million compared with
net loss of $10.7 million in 2009
* Revenues totalled $39.7 million, an increase of 6.6% from revenues of
$37.2 million in 2009
* Order Booking totaled $43.2 million representing an increase of 22.5%
over 2009
Hod-Hasharon, Israel, February 10, 2011 - Advanced Vision Technology Ltd.
(AVT, Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248),
the world's leader in print process control, quality assurance and color
control for the packaging, labels, folding cartons and commercial print
markets, announced today its financial results for the fourth quarter and
the fiscal year ended December 31, 2010.
Revenues in 2010 totaled $39.7 million 6.6% higher than the $37.2 million
generated in 2009. Revenues in the fourth quarter of 2010 were $10.1
million 11.1% higher than in Q4 2009. The increase in total revenues in
2010 is the result of the significant improvement in business conditions in
the Packaging and Labels market segments.
Order Booking in 2010 totaled $43.2 million representing an increase of
22.5% over 2009 attributable to the improvements in all market segments
and particularly in the Packaging and Labels markets. The ratio of total
order booking to revenues in 2010 was 108.8% compared with 94.7% in 2009.
As of December 31, 2010 order backlog totaled $14.5 million, an increase of
26.2% compared with the balance at December 31, 2009.
Gross margin in 2010 was 49.5% compared with 42.8%, in 2009. Proforma gross
margin in 2010 (excluding the impact of non-cash amortization of acquired
intangible assets, stock-based compensation expense and in addition, for
2009 excluding the impact of non-cash impairment charge and GMI
restructuring and integration costs) was 50.4% compared with proforma gross
margin of 49.1% in 2009.
Operating income improved from a loss of $8,9 million in 2009 to a profit
of $ 0.4 million in 2010. Proforma Operating income (excluding the items
cited above) improved from a loss of $1.8 million in 2009 to a profit of
$1.3 million in 2010. The increase in proforma EBIT in 2010 is due
primarily to higher products revenues coupled with higher gross margin and
lower operating expenses.
Net income for the year ended December 31, 2010 was $ 0.6 million or a
profit of $0.10 per share (diluted) compared with net loss of $10.7 million
or a loss of $2.02 per share (diluted) in 2009.
Shlomo Amir, President and CEO of AVT: ' 2010 was a growth year for AVT.
The best indicator of our business is order booking, and last year it grew
by 22.5%. Our performance improved in all market segments, but most notably
in the Packaging and Labels markets. These markets started to recover
slowly at the end of 2009, and this trend continued last year. The
commercial printing market is lagging behind, and projections are for an
improvement in 2011.Our performance was positive in all regions worldwide.
The fastest growing region in 2010 was Latin America, and in total it
contributed around 10% of our overall order booking.
AVT has the best products in their respective categories, and thousands of
satisfied customers. As I look forward, I believe that our
customer-oriented innovation and support will continue to be critical
assets. In 2011 I believe we will see further growth in our business, and
significantly higher profits. We project annual revenues to be between
$43.0-44.0 million and GAAP net income to be between $2.5-3.0 million'.
About AVT
Advanced Vision Technology, Ltd (AVT) is the world leader in print process
control, quality assurance and color control for the packaging, labels,
folding cartons and commercial print markets. Today, more than 2,300
PrintVision systems for packaging and labels automatic inspection, are
installed worldwide. As a premier supplier in the commercial sector, AVT
has over 870 of its closed loop color control systems, and over 4,000 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 OEMs, packaging, labels, commercial, semi-commercial,
newspaper and specialty printers in the heatset and coldset web printing
markets, worldwide.
Advanced Vision Technology'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 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.
End of Corporate News
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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(at)avt-inc.com
Internet: www.avt-inc.com
ISIN: IL0010837248
WKN: 931340
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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111785 10.02.2011
Datum: 10.02.2011 - 10:37 Uhr
Sprache: Deutsch
News-ID 33184
Anzahl Zeichen: 0
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Kategorie:
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