Advanced Vision Technology Ltd. / Key word(s): Final Results
09.02.2012 09:00
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Persistent growth in revenues and marked increase in profitability in 2011
- Total revenues of USD 46.0 million in 2011 (+15.8% over 2010)
- Revenues of USD 12.5 million in Q4 2011 (+23.9% over Q4 2010),
a new three-year record for quarterly revenues
- EBIT of USD 3.4 million (compared with USD 0.4 million in 2010)
- Net income of USD 3.9 million
- 2012 guidance for revenues USD 49 - 50 million, net income USD 4.0 - 4.5
million
Hod-Hasharon/Israel, February 9th, 2012 - The year 2011 has been a
prosperous one for Advanced Vision Technology Ltd. (AVT), continuing the
company's positive trends of 2010 and fulfilling its forecast for 2011.
AVT recorded consecutive increases in quarterly revenues, reaching in 2011
total revenues of USD 46.0 million, an increase of 15.8% compared to 2010.
The increase of revenues in 2011 was characterized by a high dynamic and
quarterly growth. With revenues of USD 12.5 million in Q4 2011, AVT
recorded a three-year record representing an increase of 23.9% over the USD
10.1 million recorded in Q4 2010, and higher by 5.9% than revenues of USD
11.8 million in the third quarter of 2011. Service revenues in 2011 totaled
USD 9.8 million (21.3% of total 2011 revenues) representing an increase of
20.8% compared to USD 8.1 million recorded in 2010.
A clear sign for ongoing growth was order booking generated in 2011 which
totaled USD 47.5 million, an increase of 10.0% over 2010, attributable
mainly to increases in the Packaging and Labels markets. In both market
segments AVT continues to see growth and larger volumes, while the
development in the commercial print segment remains slower. Order back-log
as of December 31, 2011 totaled USD 16.0 million, representing an increase
of 10.4% over the balance as at December 31, 2010.
AVT improved its profitability almost in every parameter. Gross margin in
2011 was 49.8% compared with 49.5% in 2010. EBIT increased to USD 3.4
million in 2011 from USD 0.4 million in 2010. Net profit for 2011 was USD
3.9 million or USD 0.70 per share (diluted) compared with a net profit of
USD 0.6 million or USD 0.10 per share (diluted) in 2010. Accordingly, cash
balances and short term deposits at December 31, 2011 totaled USD 13.9
million compared with USD 10.8 million at the end of 2010.
AVT is the worldwide leader in print process control, quality assurance and
color control for the packaging, labels, folding cartons and commercial
print markets. With new strategic partnerships, such as with HP, providing
inspections solutions for digital presses, the global market position was
strengthened in 2011.
AVT achieved its growth in revenues in all business segments - Packaging,
Labels and Commercial. Europe, Middle East and Africa (EMEA) contributed
44.0% to total 2011 revenues, while North and South America contributed
40.0%. Revenues in the Asia Pacific increased from 12% in 2010 to 16% in
2011, as AVT intensified its efforts through direct sales and other
marketing channels.
AVT projects revenues in 2012 to be between USD 49.0 - 50.0 million, and
net income to be between USD 4.0 - 4.5 million.
09.02.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Advanced Vision Technology Ltd.: Persistent growth in revenues and marked increase in profitability in 2011
| Source: EQS Group AG