DGAP-News: Advanced Vision Technology Ltd. / Key word(s): 9-month figures Advanced Vision Technology Ltd.: AVT Reports First Nine Months of 2015 Financial Results 11.11.2015 / 09:00 --------------------------------------------------------------------- AVT Reports First Nine Months of 2015 Financial Results Highlights for first nine months of 2015: - New Order Booking totaled USD 41.2 million, compared with USD 40.6 million in the first nine months of 2014 - Revenues totaled USD 38.4 million, compared with revenues of USD 41.1 million in the first nine months of 2014, decline primarily due to adverse exchange rate effects. - Operating Income totaled USD 3.1 million, compared with USD 4.6 million in the first nine months of 2014 - Net Income totaled USD 2.1 million, compared with USD 3.6 million in the first nine months of 2014 - Total number of systems shipped increased by about 10% compared with the first nine months of 2014 - Announced Strategic alliance with Erhardt + Leimer and acquisition of its inspection assets. Hod-Hasharon, Israel, November 11, 2015 - 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 nine months of 2015 ended September 30. Revenues in the first nine months of 2015 totaled USD 38.4 million, 6.4% lower than the USD 41.1 million generated in the first nine months of 2014. The decrease in total revenues compared with the first nine months of 2014 is due mainly to the unfavorable impact of the Euro exchange rate relative to the US Dollar of approximately USD 3.2 million, when compared to foreign currency exchange rates in the first nine months of 2014. Euro based Revenues for the first nine months of 2015 were approximately 40% of the total. New order booking in the first nine months of 2015 totaled USD 41.2 million representing an increase of 1.5% compared with order booking of USD 40.6 million in the first nine months of 2014. The impact of the stronger U.S. dollar vs. other currencies in the first nine months of 2015, if compared with same exchange rates in the first nine months of 2014, on the order booking was in the amount of approximately USD 2.8 million. Gross margin in the first nine months of 2015 was 53.0% compared with 52.5%, in the first nine months of 2014. Operating income in the first nine months of 2015 totaled USD 3.1 million with operating income of USD 4.6 million in the first nine months of 2014. Net income in the first nine months of 2015 was USD 2.1 million or a profit of USD 0.34 per share (diluted) compared with net income of USD 3.6 million or a profit of USD 0.59 per share (diluted) in the nine months of 2014. Jaron Lotan, President and CEO of AVT: "While results of the first nine months of 2015 were not as good as we had initially expected, we see a good business atmosphere in most of the relevant geographies we are active in and we have actually shipped significantly more systems in the first 9 months of this year than in last year. We are focusing our efforts on our strategic initiatives and the digital solutions, as well as our alliance with Erhardt and Leimer, and we remain optimistic about AVT's prospects. In September, AVT exhibited at Label Expo Brussels - the most important show for the label industry that attracted many packaging converters as well. At this show we launched the Helios S Turbo, our new flagship inspection and quality control system for the Label and Narrow-Web segment. Following previously announced agreements with Landa Digital Printing and Hidelberg, AVT was chosen by another major OEM to support their next generation inkjet presses and received a major order for its Jet-IQ solution. AVT also continued to enhance its digital presence with HP Indigo as it installed a second Apollo 30K system, the new solution for Folding Cartons, in the US, on an HP Indigo 30000 press and received an order for a third such system. Following our announced strategic alliance with Erhart & Leimer (E+L), we also introduced the new Helios EL upgrade, designed to enable E+L customers to get the latest AVT workflow and software features by upgrading their systems. We also co-launched the new SMARTSCAN with E+L, an entry level narrow web inspection solution for missing label and gross defect detection to complement our portfolio." 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 4000 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. AVT is a public company listed in the Prime Standard of the Frankfurt Stock Exchange. 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 which we have formed business alliances; timely availability and customer acceptance of our new and existing products, and other factors and risks discussed in our Annual Report for the year ended December 31, 2014. We assume no obligation to update information concerning our expectations. For further information, please contact: Udi Bar Sela, CFO AVT Ltd. Phone: +972-9-7614444 Fax: +972-9-7614555 Email: [email protected] --------------------------------------------------------------------- 11.11.2015 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. 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: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------- 411503 11.11.2015