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Advanced Vision Technology Ltd.: AVT Reports 2014 Financial Results

DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Final
Results
Advanced Vision Technology Ltd.: AVT Reports 2014 Financial Results

19.03.2015 / 08:00

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AVT Reports 2014 Financial Results

Highlights for 2014

Revenues totaled $54.1 million, an increase of 7.2% from revenues of $50.5
million in 2013

Operating Income totaled $5.9 million, an increase of 3.2% compared with
2013

Net Income totaled $4.6 million, a decrease of 30.0% compared with $6.6
million in 2013 (2013 net income was positively impacted by one-time net
tax benefits of $1.6 million which did not repeat in 2014)

New Order Booking totaled $52.9 million representing an increase of 2.5%
over 2013

Extra-ordinary dividend of $ 1.0 per share has been announced


Hod-Hasharon, Israel, March 19, 2015 -AVT (Advanced Vision Technology Ltd,
Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248), a
leading provider of process control, quality assurance and color control
solutions for the printing industry, announced today its financial results
for the fourth quarter and the fiscal year ended December 31, 2014.

Revenues in 2014 totaled $54.1 million 7.2% higher than the $50.5 million
generated in 2013. Revenues in the fourth quarter of 2014 were $13.0
million same as in Q4 2013. The increase in total revenues in 2014 is due
to higher sales of our solutions to the labels and packaging print
applications.

New order booking in 2014 totaled $52.9 million representing an increase of
2.5% compared with order booking of $51.6 million in 2013.

Gross margin in 2014 was 52.3% compared with 53.7%, in 2013.

Operating income in 2014 totaled $5.9 million, an increase of 3.2% compared
with 2013.

Net income for the full year ended December 31, 2014 was $4.6 million or a
profit of $0.76 per share (diluted) compared with net income of $6.6
million or a profit of $1.12 per share (diluted) in 2013 (2013 net income
was positively impacted by one-time net tax benefits of $1.6 million which
did not repeat in 2014).

Dividend Distribution

In light of the Company's high level of cash reserves the board of
directors has resolved to distribute an extra-ordinary gross dividend of
$1.0 per share. The record date for the distribution will be March 30th,
2015; the ex-dividend date will be March 31st, and the payment date will be