Sachliche Diskusion zu "INVN" InVision Technologies Inc (NASDAQ NM) - 500 Beiträge pro Seite

[liebemachtblind]

Was haltet Ihr von InVision.
Thema Terrorgefahr:
Alle Infos sind hier einzulesen.


http://www.invision-tech.com/index2.htm




MfG
Andy

[liebemachtblind]

InVision Technologies Reports Strong First Quarter Results; Quarterly Revenues of $165.2 Million up Five Times Year-Over-Year
TUESDAY, APRIL 22, 2003 4:16 PM
- BusinessWire

NEWARK, Calif., Apr 22, 2003 (BUSINESS WIRE) -- InVision Technologies, Inc. (INVN) today reported results for the first quarter ended March 30, 2003.

For the quarter, InVision reported total revenues of $165.2 million compared to revenues of $33.2 million in the first quarter of 2002. Net income for the quarter was $34.4 million, or 21% of revenues and $1.87 per diluted share. This compares to $2.8 million, or 8% of revenues and $0.17 per diluted share for the comparable quarter last year. Gross margin in the first quarter was 44% compared to 40% in the same period a year ago.

The company`s cash balance at the end of the quarter was $124.8 million, down from $159.7 million at the end of the fourth quarter of 2002. This balance does not include receipt of $66.6 million from the U.S. Transportation Security Administration received on the first day of the second quarter, nor does it reflect the payment by InVision of $41.7 million for the acquisition of Yxlon International Holding GmbH, which closed on March 31, 2003.

Sales and service of explosive detection systems (EDS) accounted for 97% of InVision`s revenue and virtually all of the net income during this period. EDS product revenues increased more than six-fold compared to the same quarter last year, while service revenues were almost three times higher. As of March 30, 2003, total company backlog was $129.3 million.

"We are very satisfied with our performance this quarter, as we continued to support the government mandate for checked luggage screening across our nation`s airports. We anticipate continuing order flow from the domestic and international markets, as well as in the area of service for existing EDS," said Sergio Magistri, Ph.D., InVision`s President and Chief Executive Officer.

"Importantly, we are continuing to see demand for automated in-line EDS deployments, which we believe help airports reduce operating costs while increasing security and passenger convenience. The 2003 budget combined with the recent supplemental appropriation for homeland security together include approximately $500 million for airport modifications, which we expect will be used to a large extent to deploy EDS like InVision`s CTX 9000 DSi model. This increased funding for airport modifications should drive EDS equipment purchases," he said.

"Significantly, the recent acquisition of Yxlon should enable InVision to deliver an economically attractive `silver bullet` solution for integrated EDS combining Yxlon`s X-ray diffraction technology with InVision`s CTX systems, offering high detection, high throughput, and a low-single-digit false alarm rate. The acquisition furthers one core component of InVision`s strategy - to strengthen the company`s global leadership position in EDS with continued performance advancements," Dr. Magistri concluded.

Highlights for the first quarter included:

-- InVision entered into an agreement to purchase Yxlon
International, a leader in X-ray diffraction-based EDS and
industrial non-destructive testing (NDT) based in Hamburg,
Germany, for $41.7 million. InVision will make an additional
payment of 10 million Euros if Yxlon`s XES 3000 or XES 3500
X-ray diffraction system is certified for explosives detection
by the Transportation Security Administration by December 31,
2003. InVision believes the combination of Yxlon`s X-ray
diffraction technology with InVision`s CTX systems represents
a significant performance advancement for the aviation
security industry. Importantly, the acquisition also
diversifies InVision`s revenues through Yxlon`s leading
position in the market for industrial NDT and X-ray components
for security applications.

-- InVision announced $8.9 million in follow-on orders from El Al
Israel Airlines and Spain, both long-standing customers, as
well as an order from Italy and a customer that requested to
remain unidentified. Continued sales to both long-established
and new customers underscore the value of our EDS to customers
in domestic and international markets.

-- InVision entered into an agreement to provide service for all
InVision EDS owned by the Transportation Security
Administration in the United States. Under this agreement,
InVision will provide 24-hour service seven days a week for
its EDS. The agreement is retroactive to November 2002 and
runs through 2007 including four remaining annual options to
renew. If all options are exercised, the value of this
agreement could be as much as $300 million over the full term
of the agreement. Service is anticipated to be a core
contributor to revenues and earnings in the coming years.

-- InVision received re-certification of the CTX 9000 DSi EDS
model with a new pre-scanning X-ray component known as the
PSX-II. This component was designed in-house to replace a
similar component that was previously purchased from a
competitor. Use of the PSX-II, in addition to providing a more
stable source of supply, has resulted in a reduction in the
cost of materials for the system.

-- InVision announced that its wholly owned subsidiary Quantum
Magnetics was awarded $3.49 million for Phase I of a 28-month
project to develop a landmine detection system situated on a
moving vehicle for the U.S. Army. The detection system is
based on one of Quantum Magnetics` core technologies,
quadrupole resonance (QR), which specifically targets
explosives molecules in bulk with a high probability of
detection and low false alarm rate.

-- As part of the company`s rapid-growth cost-control strategy,
InVision subcontracted a major portion of its production
beginning in the third quarter of 2002 through the first
quarter of 2003. The clear benefit of this outsourcing
strategy has been to allow the company to control costs
through a major production increase.

Looking Ahead


"In 2003, we expect revenues of approximately $400 million, of which our ongoing businesses will contribute approximately $360 million for the year, and Yxlon will contribute approximately $40 million for the remaining three quarters of 2003," said Dr. Magistri. "We have previously stated that quarterly revenue through 2003 will be uneven, and will depend on the timing and amounts of U.S. government funding throughout the year. With our strategy for outsourcing manufacturing in place, InVision`s cost structure and profitability should be well-managed within a wide revenue range."

"Looking beyond 2003, we believe the fundamentals of our business are good, due to EDS demand drivers and service revenues, as well as the benefit of diversified revenues provided by Yxlon`s NDT business. We have a strong balance sheet, and we have demonstrated the ability to manage our business effectively through revenue fluctuations. We have the strategy and the means to grow our business, both organically and through acquisitions. Our strategic focus is three-fold: first, strengthening our core EDS business, as we are doing with Yxlon; second, expanding our product base into cargo, people and parcel screening; and third, leveraging our aviation security expertise and reputation into the broader homeland security industry," Dr. Magistri concluded.

InVision Technologies, Inc. will webcast a presentation regarding these results and InVision`s outlook for the future over the Internet at 1:45 pm (PT) / 4:45 PM (ET) today. To listen, please log on to www.invision-tech.com, and follow the link that will be posted on the front page. A replay of the webcast will be available shortly after the presentation and will remain available through midnight (ET) on April 21, 2004.

InVision Technologies develops, manufactures, markets and supports explosives detection systems based on advanced computed tomography technology for civil aviation security. InVision`s wholly owned subsidiary Yxlon develops, manufactures, markets and supports automated X-ray based NDT systems for a wide range of industrial applications and has developed X-ray based diffraction for explosives detection. InVision`s wholly owned subsidiary Quantum Magnetics develops detection systems for weapons, narcotics, explosives and other threats based on QR and other proprietary magnetic sensing technologies. InVision`s wholly owned subsidiary Inovec develops, manufactures, markets and supports scanning, optimization and control systems for the forest products industry. Additional information about InVision can be obtained on the company`s web site at http://www.invision-tech.com.

This news release contains forward-looking statements, including statements regarding the benefits of in-line EDS deployments; InVision`s projected future financial results; InVision`s belief that quarterly revenues in 2003 will be uneven; InVision`s beliefs regarding the benefits it will obtain from its acquisition of Yxlon International; the value that InVision expects to obtain from its service contract; and InVision`s belief of its ability to manage its business through revenue fluctuations. Investors are cautioned to consider the important risk factors that could cause actual results to differ materially from those in the forward-looking statements in this news release. These risk factors include: the risk that U.S. airports do not achieve the anticipated benefits of deploying in-line EDS; the risk that InVision does not meet its projected financial results due to the unavailability or reduction of U.S. and foreign governmental funding, the termination or decrease in orders by the U.S. government, lower than expected service revenues or the cancellation or non-renewal of the service agreement; the risk that InVision may not be able to obtain in a timely manner components necessary to build the number of EDS units it expects to build due to the unavailability of components; the risk that InVision may not be able to timely manufacture its EDS units due to unforeseen difficulties with its own or its manufacturing subcontractor`s operations; the risk that InVision does not achieve the anticipated benefits of its acquisition of Yxlon due to the failure to retain key Yxlon personnel and greater than anticipated challenges with respect to integration of the operational, financial and management information systems of InVision and Yxlon; and other risks detailed under the caption "Risk Factors" in InVision`s most recent report on Form 10-K filed with the Securities and Exchange Commission. InVision is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Note to Editors: CTX, CTX 9000 DSi and Yxlon are trademarks of InVision Technologies, Inc. or its subsidiaries.

InVision Technologies, Inc.
Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

Three Months Ended
-------------------
March 30, March 31,
2003 2002
--------- --------
Revenues:
Product revenues $152,814 $26,095
Service revenues 8,909 3,466
Contract research and development revenues 3,445 3,637
--------- --------
Total revenues 165,168 33,198
--------- --------

Cost of revenues:
Product costs 84,674 14,917
Service costs 5,000 2,314
Contract research and development costs 2,136 2,543
--------- --------
Total cost of revenues 91,810 19,774
--------- --------

Gross profit 73,358 13,424
--------- --------

Operating expenses:
Research and development 7,355 3,312
Selling, general and administrative 9,062 5,379
--------- --------
Total operating expenses 16,417 8,691
--------- --------

Income from operations 56,941 4,733
Interest expense (42) (94)
Interest and other income, net 685 130
--------- --------
Income before provision for income taxes 57,584 4,769

Provision for income taxes 23,177 1,951
--------- --------

Net income $34,407 $2,818
========= ========

Net income per share:
Basic $2.02 $0.21
========= ========
Diluted $1.87 $0.17
========= ========

Weighted average shares outstanding:
Basic 17,067 13,684
Diluted 18,379 16,110


InVision Technologies, Inc.
Consolidated Balance Sheets
(In thousands, except share data)

March 30, Dec. 31,
2003 2002
----------- ---------
(Unaudited)
Assets

Current assets:
Cash and cash equivalents $124,751 $159,736
Accounts receivable, net 172,890 146,295
Inventories 59,080 64,764
Deferred income taxes 22,767 20,889
Other current assets 11,045 15,811
----------- ---------
Total current assets 390,533 407,495

Property and equipment, net 7,623 7,225
Deferred income taxes 804 1,050
Intangible assets, net 1,548 1,603
Other assets 2,092 414
----------- ---------
Total assets $402,600 $417,787
=========== =========

Liabilities and stockholders` equity

Current liabilities:
Accounts payable $29,014 $28,477
Accrued liabilities 76,807 65,364
Deferred revenue 22,917 86,284
Short-term debt 432 184
Current maturities of long-term obligations 278 112
----------- ---------
Total current liabilities 129,448 180,421
----------- ---------

Long-term obligations 1,029 653
----------- ---------

Commitments and contingencies

Stockholders` equity:
Preferred stock, $0.001 par value,
5,000,000 shares authorized;
no shares issued and outstanding - -
Common stock, $0.001 par value, 60,000,000
shares authorized; 17,383,000 and 17,243,000
shares issued; 17,148,000 and 17,008,000
shares outstanding 17 17
Additional paid-in capital 167,599 166,243
Deferred stock compensation expense (373) (406)
Accumulated other comprehensive loss (2,169) (1,783)
Retained earnings 109,243 74,836
Treasury stock, at cost (235,000 and
235,000 shares) (2,194) (2,194)
----------- ---------
Total stockholders` equity 272,123 236,713
----------- ---------
Total liabilities and
stockholders` equity $402,600 $417,787
=========== =========

[liebemachtblind]

Last:
22.17

[ajuga]

Negative Kommentare vom 06.05.03 auf US-Musterdepot.de!

Aktie herabgestuft auf Buy von vorher Strong Buy. Kursziel nun nur noch 30 $ nach 39 $. Angeblich hätte es wohl eine "versteckte" Korrektur (seitens des Unternehmens) der Umsatzprognose nach unten gegeben...

ajuga

[ajuga]

Also ich hab sie und behalte sie natürlich auch weiterhin. Der nächste Terroranschlag kommt gewiss. Dann wird das Papier wohl weit über 30 Dollar hinausschießen!!!



ajuga

[pondos]

13.05.03 News-Release INVN

InVision erhält Aufträge für Inspektionstechnolgien von Flughäfen in Madrid (Spanien) und Palermo (Italien) in Höhe von 14,5 Mio $.

Quelle: http://www.thecunningm.de/

[Maiball]

Was gibt es eigentlich neues von INVN ??? Kann hier mal jemand Infos geben. Was hat es mit den Verlusten der letzten Woche auf sich ? War länger unterwegs und bin völlig aus dem Thema .[/B] Im Vorraus vielen Dank !!!

[ustrading]

Die aktuellen Q-Zahlen lagen hinter den Erwartungen der Analysten und gleich gings bergab. Interessanterweise konnte Konkurrent L3 Communications Holdings Inc.(NYSE:LLL) bei seinen Zahlen zulegen. Ich denke mal früher oder später werden beide Unternehmen fusionieren.

InVision Technologies Reports Second-Quarter Earnings
Tuesday July 22, 4:35 pm ET
Company on Track to Meet Full Year Guidance

NEWARK, Calif.--(BUSINESS WIRE)--July 22, 2003--InVision Technologies, Inc. (Nasdaq:INVN - News) today reported results for its second quarter ended June 29, 2003. The second quarter results include for the first time the impact of Yxlon International Holding GmbH following completion of the acquisition on March 31, 2003.
Highlights

Solid performance from explosives detection system (EDS) business.
Positioned for additional opportunities in aviation security industry.

For the second quarter of 2003, InVision`s revenues were $89.4 million compared to revenues of $68.4 million in the second quarter of 2002. Net income for the second quarter of 2003 was $7.0 million, with earnings per diluted share of $0.38. InVision recorded a charge of $4.3 million of in-process research and development expenses related to the acquisition of Yxlon in the second quarter of 2003. Excluding this charge, for the second quarter of 2003, pro forma net income was $11.3 million and pro forma EPS was $0.61 per diluted share. This compares to net income of $9.6 million and earnings per diluted share of $0.52 for the comparable quarter last year. A reconciliation between net income on a GAAP basis and pro forma net income is provided in Schedule 1 following the consolidated statements of operations.

For the first six months of 2003, InVision`s revenues were $254.6 million compared to revenues of $101.6 million in the first six months of 2002. InVision`s net income was $41.4 million, or $2.25 per diluted share, for the first six months of 2003, versus $12.4 million, or $0.73 per diluted share, in the first six months of 2002.

Gross margin in the second quarter of 2003 was 40% compared to 42% in the second quarter of 2002, and was 43% in the first six months of 2003 compared to 41% in the first six months of 2002.

At the end of the second quarter of 2003, InVision had $163 million in cash and cash equivalents and total company backlog was $118 million.

Performance by Reportable Segment

Following the acquisition of Yxlon, InVision has two reportable segments: EDS and non-destructive testing (NDT) systems. The core EDS business continued to perform solidly in the second quarter 2003 with revenues of $72.4 million, income from operations of $19.8 million and income from operations as a percentage of revenues of 27.4%. EDS service revenues, which are expected to continue to be a larger percentage of revenues, were $8.6 million in the second quarter of 2003.

During the second quarter of 2003, Yxlon`s NDT business had revenues of $11.8 million and loss from operations of $868,000. The company believes that the NDT business will be dilutive to InVision`s performance in 2003, and slightly accretive in 2004.

A reconciliation of reportable segment revenues and income (loss) from operations to consolidated revenues and income (loss) from operations is provided in Schedule 2 following the consolidated statements of operations.

Summary

"Phase I of the U.S. rollout for EDS was completed at the end of 2002, primarily with stand-alone systems. We are now heavily involved in Phase II of the U.S. rollout for EDS, which is the deployment of in-line automated, baggage-screening systems. We continue to see demand for our top-of-the-line CTX 9000 DSi model, which with its unique one meter wide opening is specifically designed to be integrated into baggage handling systems," said Sergio Magistri, Ph.D., InVision President and Chief Executive Officer.

"InVision also provides service for 100% of its EDS systems in the United States that are owned by the Transportation Security Administration (TSA), and approximately 90% of its systems overseas. With our increased installed base, we anticipate a sequential increase in our service revenues over the next 12-18 months as recently shipped EDS systems come off their warranty. This service business provides InVision with solid gross margins. We also believe that, following certification by the TSA, upgrades to our systems already deployed will make a significant contribution to future revenues. We expect these upgrades to include software to further reduce operator alert rates and the roll-out of EDS systems utilizing Yxlon`s X-ray diffraction (XRD) technology to complement existing EDS computed tomography technology for further operator alert rate reduction -- our proposed `silver-bullet` solution to explosives detection," Dr. Magistri said.

"We are also seeing demand that a level of security comparable to that of checked luggage be extended to passengers, carry on luggage and cargo screening. To address these emerging market opportunities, we have recently invested in the development of a passenger-screening portal by SafeView, Inc. and we are continuing the development of advanced technologies for the screening of people, carry-on luggage and small cargo. In this area, we see promising opportunities for the QR technology that we continue to develop for aviation security and land mine detection. We believe that InVision is well positioned to take advantage of additional aviation security and homeland security opportunities," Dr. Magistri said.

Highlights for the second quarter included:

Completion of the acquisition of Yxlon, a leader in XRD and NDT technologies based in Hamburg, Germany, for $41.7 million in cash. InVision will make an additional payment of 10 million euros if Yxlon`s XRD system is certified for explosives detection by the TSA by December 31, 2003. Yxlon has developed XRD for explosives detection and is a leading supplier of X-ray based NDT equipment, with a presence in more than sixty countries including the United States. In its fiscal year ended September 30, 2002, Yxlon generated revenues of 57.6 million euros.
Strategic equity investment in SafeView, Inc. of Santa Clara, Calif. to commercialize an advanced passenger checkpoint portal system that uses millimeter wave holographic technology to screen passengers for weapons, explosives and other contraband material, including ceramic, plastic and other non-metallic weapons. Current passenger checkpoint security technology is capable of identifying only metallic weapons and is inadequate for addressing today`s threats. When development is completed, InVision will be the exclusive distributor of SafeView`s portal systems in commercial aviation and airport markets in North America and Europe.
International orders continued to grow, including orders for InVision`s CTX 9000 DSi units from airport authorities in Madrid (Spain) and Palermo (Sicily, Italy). The total value of these orders is approximately $14.5 million. The systems are scheduled for delivery during 2003. These orders build on InVision`s existing presence in Spain and Italy.
InVision`s wholly owned subsidiary, Quantum Magnetics, received an $11.4 million research and development contract from the U.S. Navy Office of Naval Research for the further development of a light-weight, man-portable mine detection system, based on quadrupole resonance technology which targets explosives molecules. This effort is expected to culminate in a lightweight, backpack-mounted landmine detector designed for use by the U.S. Marine Corps.
Business Outlook

The company said that it expects a significant part of the budget of the Department of Homeland Security (DHS) for fiscal 2003 (which ends September 30) for EDS and explosives trace detection (ETD) equipment will be spent in the third quarter, and anticipates that revenues for the full calendar year 2003 to meet its $400 million revenue guidance. Looking forward to 2004, InVision said that the fundamentals of its business remain good. InVision believes that the recent $350 million funding to three airports from the Letter of Intent program indicates ongoing commitment for facilities improvements and modifications related to EDS installation specifically for in-line EDS equipment.

The company said that specific federal government funding levels for purchases of EDS equipment for 2004 are currently being discussed in Congress, but that it anticipates the final budget to be lower than the 2003 budget. As a result, InVision anticipates that revenues for 2004 will be lower than revenues for 2003. The company said that it expects the revenue run rate for the last three quarters of 2003 to be reasonably indicative of its anticipated average future operating level through 2004, with reduced EDS product revenues partially offset by increased EDS services revenues.

InVision also said that it expects revenues to continue to vary from period to period as a result of the timing, size and mix of orders from the TSA, which may continue to experience delays as DHS works to build its organization. In addition, the U.S. government`s fiscal year is different from InVision`s, which also makes revenue projections difficult to predict across fiscal year boundaries.

"Our strong balance sheet provides us with significant flexibility to consider acquisitions of, and investments in, established and emerging technologies that complement our position in aviation security. Throughout this process, we are focused on increasing stockholder value and the ability of any acquisition or investment to strengthen our position in aviation security," Dr. Magistri added.

hier noch ein Artikel über InVision in Deutsch
www.nasdaq-stocks.de/html/invision.htm

[Holzofen]

Kann mir einer sagen was heute los ist ich bin nicht so gut in Englisch!!!!!