Advanced Vision Technology Ltd. / Key word(s): Quarter Results/Corporate Action 14.05.2014 09:38 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- AVT shows a solid performance in revenues and earnings in the first quarter of 2014 - Total revenues increased by 8.8% to USD 13.4 million (compared with USD 12.3 million in Q1 2013) - EBIT totaled USD 1.4 million (+1.0% over Q1 2013) - Net income of USD 0.9 million (+2.9% compared to Q1 2013) - AVT Board of Directors resolved to seek approval for capital reduction Hod-Hasharon, Israel, May 14, 2014 - Advanced Vision Technology (AVT) Ltd. presents a good start for 2014, experiencing growth in business in first quarter, especially in the Commercial printing market. AVT's total revenues increased by 8.8% to USD 13.4 million in the first quarter of 2014 compared to USD 12.3 million in the respective period of last year. Order booking in Q1 2014 totaled USD 13.1 million, representing an increase of 7.0% over order booking of USD 12.3 million in the first three months of 2013. As of March 31, 2014, order back-log totaled USD 18.7 million, representing an increase of 6.7% compared with the back-log as of March 31, 2013. Gross margin in Q1 2014 was 50.4% versus 54.2% in Q1 2013. This decrease is primarily attributable to a one-time early repay of its outstanding contingent royalties obligation to the Israeli Chief Scientist. Some products and services had been developed along the years with the assistance of grants paid by the Israeli government. Earnings before interest and taxes (EBIT) in the first three months of 2014 slightly increased by 1.0% to USD 1.4 million. Operating margin in Q1 2014 was 10.2%. Net income for the first quarter 2014 totaled USD 0.9 million or USD 0.16 per share (diluted), representing an increase of 2.9% over Q1 2013. The AVT Board of Directors resolved to seek approval of an Israeli court for a capital reduction in the amount of USD 12.0 million, which if approved may enable the Board of Directors in the future to declare further dividends and/or adopt a share buyback program. 14.05.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------