Receives $600,000 order from a Chinese manufacturer
EVS to report second quarter financial results on August 12 and host a conference call
CAESAREA, Israel, Aug. 5, 2015 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTCBB:EVSNF), a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today that it has received a key $600,000 order for 19 iBar systems and one IQ-Tex4 system for tire-cord application, from a major Chinese manufacturer of advanced materials and fabrics. In total, 40 iBars have been sold for this particular application out of a total of 70 iBars sold-to-date.
Mr. Sam Cohen, CEO of EVS, commented, "iBar has more than proven itself to the initial customers which have been qualifying our machines by bringing a very quick return on investment. Some of our customers, such as this one, are now at the stage where they have seen the value that iBar brings, and are expanding their integration of iBar across more of their production lines. We are very pleased with the ongoing, and now significantly increasing, success of our iBar system. I believe we have reached the point where we are beginning to see the expansion part of our land-and-expand strategy, and I look forward to receiving further orders in the near future."
EVS also announced that its second quarter 2015 results would be released on Wednesday, August 12, 2015 and a conference call will be held in conjunction with the release, starting at 9am ET. Sam Cohen, Chief Executive Officer and Yaron Menashe, Chief Financial Officer, will host the call and will be available to answer questions after presenting the results.
To participate, please call one of the following telephone numbers:
| US: | 1 866 744 5399 | at 9:00 am Eastern Time |
| Israel: | 03 918 0687 | at 4:00 pm Israel Time |
| International: | +972 3 918 0687 |
For those unable to participate, the teleconference will be available for replay on Elbit Vision Systems' website at http://www.evs.co.il/ beginning 24 hours after the call.
About Elbit Vision Systems Ltd. (EVS): www.evs.co.il
EVS offers a broad portfolio of automatic State-of-the-Art Visual Inspection Systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency. EVS' systems are used by over 800 customers, many of which are leading global companies.
This press release and other releases are available on www.evs.co.il.
Safe Harbor Statement
This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.