AVT Reports Record Year
- Published: February 28, 2003, By PRESS RELEASE
HOD-HASHARON, ISRAEL—Advanced Vision Technology Ltd. (AVT) recently reported its 2002 results "with record revenues and orders." According to the supplier of automatic optical inspection systems for web printing applications, 2002 revenues were US $12.5 million, an increase of 35 percent over 2001, while net loss decreased by 50 percent from $5.7 million to $2.8 million. States the AVT financial information release:
This exceeds the initial projections for the year, demonstrating AVT's strength and the accelerating penetration of its technology in the printing market. Revenues for Q4 2002 were $3.9 million, a growth of 69 percent over the same period in 2001. This represents the highest-every quarterly revenues recorded by AVT, and the 5th consecutive quarter of growth. During Q4, earnings before interest and tax (EBIT) improved from minus $1.6 million for the same periods in 2001.
Visit AVT at avt-inc.com. At the close of 2002, AVT's backlog stood at $6.5 million. The company expects further growth in 2003, in spite of continued uncertain market conditions.
