NOVEMBER 14, 2007--Advanced Vision Technology (AVT; Hod-Hasharon, Israel; www.avt-inc.com), a provider of automatic optical inspection and quality-assurance systems for the printing and packaging industry, completed Q3 2007 with revenue of US$ 8.2 million, up 13% compared to the same period in 2006 (US$ 7.2 million). Revenues for the nine months to 30 September totaled US$ 24.1 million, up 14.4% over the same period in 2006 (US$ 21.1 million).
Net income for the quarter was up 57.4% at US$ 2.0 million (US$ 1.3 million for the same period in 2006). Net income for the nine months to 30 September grew 30.4% to US$ 5.5 million (US$ 4.2 million for the same period in 2006). Orders for the first nine months totaled US$ 25.1 million, representing a growth of 19.4% over the same period in 2006 (US$ 21.0 million). At 30 September, the company had an order backlog of US$ 10.6 million 19.7% higher than the respective period of 2006, with 65-75% of that total expected to become revenues in Q4.
Europe showed strong growth with 45% of all sales for the first nine months (37% in the same period of 2006). Revenues from maintenance, service and training for the first nine months increased to US$ 1.86 million, 28% higher than the same period in 2006 (US$ 1.45 million).
Q3 saw the acquisition of Graphic Microsystems (GMI; www.gmicolor.com) by AVT. The company is a supplier of closed-loop color control systems, color management and reporting software, as well as remote digital ink fountain control systems for printers and press manufacturers.