Advanced Vision Technology Ltd. / Key word(s): Preliminary Results/Quarter
Results
07.02.2013 09:03
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.
---------------------------------------------------------------------------
AVT recorded a steady increase in revenues and significantly faster growing
profits in 2012
- Total revenues of USD 48.0 million in 2012 (up 4.5% year on year)
- EBIT of USD 5.3 million (+56.8% over USD 3.4 million in 2011)
- Net income totaled USD 4.9 million (USD 3.9 million in 2011)
- Dividend of USD 0.45 per share with respect to 2012 profits has been
announced
- 2013 guidance for revenues USD 49.0 - USD 50.0 million, pre-tax income
USD 5.2 - USD 5.4 million
Hod-Hasharon, Israel, February 7th, 2013 - Advanced Vision Technology (AVT)
Ltd. has experienced a successful 2012 with a steady increase in both
revenues and profitability including tremendous Q4 2012 financial results.
Revenues in 2012 totaled USD 48.0 million, representing an increase of 4.5%
over USD 46.0 million in 2011. Despite the modest revenues growth, AVT's
profits grew significantly faster. Net income in 2012 was USD 4.9 million,
representing an increase of 26.6% compared with USD 3.9 million in 2011
exceeding its full year guidance regarding net income (USD 4.0 - 4.5
million). Notably, both Q4 2012 revenues of USD 12.7 million and net profit
of USD 2.0 million marked the highest quarterly revenues and profitability
in the last four years.
From the regional perspective, the Americas market expanded from 40% in
2011 to 42% in 2012. The Asia-Pacific increased from 16% to 19% while EMEA
(Europe, Middle East & Africa) decreased from 44% to 39%.
New order booking in 2012 totaled USD 49.7 million, representing an
increase of 4.6% over 2011, mainly attributable to increases in the
Packaging and Labels markets. Order booking in Q4 2012 was USD 14.1
million, the highest in the last four years and 24.6% over the respective
period in 2011. New order booking to revenues ratio in the fourth quarter
was 1.12 - a clear sign for ongoing growth in 2013. Order backlog as of
December 31, 2012 totaled USD 17.4 million, an increase of 8.9% compared
with the balance at December 31, 2011.
In 2012, AVT could further improve its profitability: Gross margin for the
full year was 53.3% compared with 49.8%. EBIT in 2012 was USD 5.3 million,
an increase of 56.8% over USD 3.4 million in 2011. Net income for the year
ended December 31, 2012 was USD 4.9 million or a profit of USD 0.88 per
share (diluted) compared with net income of USD 3.9 million or USD 0.70 per
share (diluted) in 2011.
The board of directors resolved to distribute a gross dividend of $0.45 per
share in respect of the profits of 2012. The record date for the
distribution will be February 25th, 2013; the ex-dividend date will be
February 26th, and the payment date will be March 1st. The tax withholding
rate will be approximately 15%.
For 2013, AVT projects revenues to be between USD 49.0 - USD 50.0 million,
and pre-tax income to be between USD 5.2 - USD 5.4 million.
07.02.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: Advanced Vision Technology Ltd.: AVT recorded a steady increase in revenues and significantly faster growing profits in 2012
| Source: EQS Group AG