Profits and Revenue Continue to Grow at AVT

Published: June 14, 2005, By pffc-online.com

PRESS RELEASE

HOD-HASHARON, ISRAEL—In its 13th consecutive quarter of growth, Advanced Vision Technology (AVT) reports a net profit of $736,000 on revenues of $6 million for the first quarter of 2005. This represents a 2% increase in revenue over Q4 2004, and a 24% increase over Q1 2004. Fifty-three percent of sales came from North and Latin America, 30% from Europe, and 17% from the rest of the world.

Profitability also continued to grow with a proforma operating profit (excluding stock-based compensation) of $858,000, or 131% over the same period in 2004 and 47% higher than in Q4 2004.

See avt-inc.com.