DGAP-News: Advanced Vision Technology Ltd. / Key word(s): Final Results Advanced Vision Technology Ltd.: AVT reports a 11.2% increase in Revenues for 2016 over 2015 28.03.2017 / 08:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- AVT reports a 11.2% increase in Revenues for 2016 over 2015 * 16.4% increase in Revenues for Q4 2016 over Q4 2015; * Operating Profit for 2016 increased by 22.3% over 2015; * Net Income for 2016 increased by 48.8% over 2015. Hod Hasharon, Israel, March 28, 2017 - AVT (Advanced Vision Technology Ltd, Prime Standard of the Frankfurt Stock Exchange, ISIN: IL0010837248), a leader in automatic print inspection, process control, quality assurance and color control for printing applications, announced today that its 2016 revenues increased by 11.2% compared to 2015. AVT generated US $57.3 million in revenues in 2016, compared to US $51.5 million in 2015. AVT's fourth quarter 2016 revenues totaled US $15.2 million, compared with US $13.0 million in the same period last year, an increase of 16.4%. AVT also saw annual gains in several other major financial indicators, including new order booking, operating income and net income. New order booking in 2016 totaled US $63.5 million, a 10.2% increase over the US $57.6 million generated in 2015. New order booking in the fourth quarter of 2016 totaled US $16.9 million, an increase of 3% over the US $16.4 million in Q4 2015. AVT's operating income in 2016 totaled US $5.0 million, compared to US $4.1 million in 2015, an increase of 22.3%. Net Income in 2016 was US $4.1 million, or a profit of US $0.67 per share (diluted), compared with US $2.8 million or a profit of US $0.45 per share (diluted), in 2015. Net income in the fourth quarter of 2016 was US $1.7 million, compared with net income of US $0.7 million in 2015. AVT's gross margin in 2016 was 51.9% compared with 52.6% in 2015. Gross margin for the fourth quarter of 2016 was 53.0% compared with 51.5% in the fourth quarter of 2015. According to Jaron Lotan, President & CEO of AVT: "We are very pleased with our financial results that reflect growth across territories and in label and packaging applications, as well as positive results of our growth strategy, especially in the digital segment. We remain focused on providing quality solutions and excellent support to our customers while investing in new directions and solutions for future growth. As previously announced, on March 6, 2017 we signed a merger agreement pursuant to which AVT will be acquired by Danaher Corporation's Product Identification Platform and become an indirect wholly owned subsidiary of Danaher Corporation. This is an exciting next step in the development of AVT, both for our customers and for our associates. Being part of Danaher's Product Identification Platform will strengthen our ability to continue to execute our existing strategy and will enable us to bring more innovative and connected solutions for the packaging and label value chain." Highlights for 2016: * Revenues in 2016 totaled US $57.3 million compared with US $51.5 million in 2015. * New Order Booking in 2016 totaled US $63.5 million compared with US $57.6 million in 2015. * Operating Income in 2016 totaled US $5.0 million compared with US $4.1 million in 2015. * Net Income in 2016 totaled US $4.1 million compared with US $2.8 million in 2015. About AVT AVT (Advanced Vision Technology, Ltd) is a leading provider of print process control, quality assurance and color control solutions for the printing industry. AVT offers inspection and process control solutions for Packaging, Labels, Folding Cartons and Metal Decorating applications. Today, more than 4,000 AVT automatic inspection systems for packaging and labels are installed worldwide. As a premier supplier of color control solutions for offset printing, AVT has over 800 of its closed loop color control systems, and over 3,300 color management and reporting software and remote digital ink fountain control systems installed around the world. AVT's products are sold to leading printing press and finishing equipment manufacturers as well as to packaging, labels commercial and specialty printers, both in web and sheet printing, worldwide. AVT's headquarters are located in Hod-Hasharon, Israel with sales, marketing, and support offices in the United States, Europe and China. As previously announced, on March 6, 2017, AVT signed a definitive merger agreement with Pelican Merger Holdings Israel Ltd. and Pelican Merger Sub Ltd., pursuant to which Pelican Merger Sub Ltd. will merge with and into AVT, AVT will be the surviving entity in the merger, will be acquired by Danaher Corporation's Product Identification Platform and become an indirect wholly owned subsidiary of Danaher Corporation. As a result of the Merger, each ordinary share of AVT will be converted into the right to receive EUR 14.50 in cash. The transaction is subject to customary closing conditions, including the approval of AVT's shareholders by a special majority. Following the closing of the transaction, it is intended to effect the delisting of AVT's shares from the Frankfurt Stock Exchange. The closing is expected to occur during the second quarter of 2017. Please visit the AVT website: www.avt-inc.com Safe Harbor Statements Certain statements in this press release are forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to: the impact on revenues of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; any unforeseen developmental or technological difficulties with regard to our products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; a shift in demand for products such as ours; unknown factors affecting third parties with whom we have formed business alliances; timely availability and customer acceptance of our new and existing products; if any of the conditions to the closing of the merger transaction with Pelican Merger Holdings Israel Ltd. and Pelican Merger Sub Ltd. are not satisfied or waived; and other factors and risks discussed in our 12 months report for 2016. We assume no obligation to update information concerning our expectations. For further information, please contact: Udi Bar Sela, CFO Advanced Vision Technology Ltd (AVT) Ltd. Phone: +972-9-7614444 Fax: +972-9-7614555 Email: [email protected] --------------------------------------------------------------------------- 28.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Advanced Vision Technology Ltd. Hanagar 6 45241 Neve Ne'eman, Hod Hasharon Israel Phone: +972 9 761-4444 Fax: +972 9 761-4555 E-mail: [email protected] Internet: www.avt-inc.com ISIN: IL0010837248 WKN: 931340 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------------- 558723 28.03.2017