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Advanced Vision Technology Ltd.: AVT Reports Q1 2015 Financial Results

DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Quarter
Results
Advanced Vision Technology Ltd.: AVT Reports Q1 2015 Financial Results

20.05.2015 / 16:00

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AVT Reports Q1 2015 Financial Results

- Revenues totaled USD 13.0 million, compared with revenues of USD 13.4
million in Q1 2014

- Operating Income totaled USD 1.39 million, compared with USD 1.37
million in Q1 2014

- Net Income totaled USD 0.87 million, compared with USD 0.94 million in
Q1 2014

- New Order Booking totaled USD 12.9 million, compared with USD 13.1
million in Q1 2014

Hod-Hasharon, Israel, May 20, 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 the financial results
for the first quarter of 2015 ended March 31.

Revenues in the first quarter of 2015 totaled USD 13.0 million, 3.2% lower
than the USD 13.4 million generated in Q1 2014. The decrease in total
revenues compared with Q1 2014 is due mainly to unfavorable impact of the
Euro exchange rate relative to the US Dollar of approximately USD 0.9
million, when compared to foreign currency exchange rates last year.

New order booking in the first quarter of 2015 totaled USD 12.9 million
representing a decrease of 1.4% compared with order booking of USD 13.1
million in Q1 2014. The order booking results in Q1 2015 reflect a negative
impact of a stronger U.S. dollar vs. other currencies in the amount of
approximately USD 1.0 million, when compared to foreign currency exchange
rates of Q1 2014.

Gross margin in the first quarter of 2015 was 53.1% compared with 50.4%, in
Q1 2014.

Operating income in the first quarter of 2015 totaled $1.39 million, an
increase of 1.4% compared with operating income of USD 1.37 million in Q1
2014.

Net income in the first quarter of 2015 was USD 0.87 million or a profit of
USD 0.14 per share (diluted) compared with net income of USD 0.94 million
or a profit of USD 0.16 per share (diluted) in Q1 2014.


Jaron Lotan, President and CEO of AVT: "Results of our first quarter of
2015 were slightly less than we expected primarily due to the exchange rate
effects of the Euro against the USD. At the same time we see a good