AVT Records 17th Consecutive Quarter of Growth

Published: May 18, 2006, By pffc-online.com

PRESS RELEASE

HOD-HASHARON, ISRAEL—Advanced Vision Technology (AVT) announced sales for Q1 2006 of $6.8 million, up 13% over the same period in 2005, and 3% over Q4 2006. These results mark AVT's 17th consecutive quarter of growth.

Profitability also continued to rise with a gross margin of 62.8% (60.3% for the same period in 2005). Net income for the quarter rose by 66.7% to $1.23 million ($736,000 in Q1 2005). Net margin more than doubled from 7.7% to 18%. New order bookings grew by 16% over the same period in 2005 to $6.5 million.

See avt-inc.com.