DGAP-News

Advanced Vision Technology Ltd. Reports Q1 2016 Financial Results

DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Quarter Results
Advanced Vision Technology Ltd. Reports Q1 2016 Financial Results

10.05.2016 / 07:00
The issuer is solely responsible for the content of this announcement.

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AVT Reports Q1 2016 Financial Results

Highlights for Q1 2016:
- New Order Booking totaled USD 14.8 million, compared with USD 12.9
million in Q1 2015
- Revenues totaled USD 12.3 million, compared with revenues of USD 13.0
million in Q1 2015
- Operating Income totaled USD 0.24 million, compared with USD 1.39
million in Q1 2015
- Net Loss totaled USD 0.38 million, compared with Net Income of USD 0.87
million in Q1 2015

Hod-Hasharon, Israel, May 10, 2016 - 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 2016 ended March 31.

New order booking in the first quarter of 2016 totaled USD 14.8 million,
representing an increase of 14.7%, compared with order booking of USD 12.9
million in Q1 2015.

Revenues in the first quarter of 2016 totaled USD 12.3 million, 4.8% lower
than the USD 13.0 million generated in Q1 2015. The higher levels of order
booking in Q4 2015 and Q1 2016 are expected to materialize into revenue
over 2016.

Gross margin in the first quarter of 2016 was 50.2%, compared with 53.1% in
Q1 2015. On a Non-GAAP basis, gross margin in the first quarter of 2016 was
50.9% vs. 53.2% in Q1 2015. The difference in gross margin is mainly due to
the lower level of revenues.

Operating income in the first quarter of 2016 totaled USD 0.24 million,
compared with operating income of USD 1.39 million in Q1 2015. On a
Non-GAAP basis, operating income in the first quarter of 2016 totaled USD
0.42 million vs. USD 1.47 million in Q1 2015.

Net loss in the first quarter of 2016 was USD 0.38 million or a loss of USD
0.06 per share, compared with net income of USD 0.87 million or a profit of
USD 0.14 per share (diluted) in Q1 2015. Net loss in the first quarter of
2016 was attributable to the accounting treatment of the company's
activities to hedge its exposure to fluctuations in the exchange rates of
non-USD currencies. Total comprehensive loss was USD 0.03 million, compared
with comprehensive income of USD 0.87 million in Q1 2015.

Jaron Lotan, President and CEO of AVT: "We are pleased with the good order