AVT Posts Another Quarter of Growth
HOD-HASHARON, Israel—Advanced Vision Technology (AVT)—a leading provider of automatic optical inspection and quality assurance systems for the printing and packaging industries—completed the second quarter of 2007 with revenues of $8.06 million, up 15.0 percent over the same period in 2006 ($7.01 million).
Net income for the quarter was up 13.9 percent over Q2 2006, to $1.94 million (1.70 million for the same period in 2006). Net income for the first six months of 2007 rose 18.4 percent to $3.47 million ($2.93 million for the first six months of 2006).
Order bookings continued to rise with total bookings for the first half of 2007 totalling $18.83 million, up 50.5 percent over the same period in 2006 ($12.51 million). Service revenues for the first six months of 2007 totalled $1.17 million, an increase of 38.2 percent over the same period in 2006 ($849 thousand).
AVT’s strategy of talking to printers to better understand their requirements continues and is reflected in the commitment to research and development. In the first six months of 2007 investment in R&D was up 28.9 percent over the same period of 2006 to $2.23 million ($1.73 million in 2006).
“The past six months have been exciting for AVT,” said Shlomo Amir, president and CEO. “With strong growth in all regions, AVT has maintained its momentum with participation in trade shows and open houses around the world. The second half of the year will feature a strong presence at Labelexpo Europe in September, where the company’s entire range of solutions for label printers will be featured on our own and on industry-leading partners’ stands.”