DECEMBER 15--PPT VISION (Minneapolis, MN, USA; www.pptvision.com) has announced financial results for the fourth quarter and fiscal year ended October 31, 2006. Revenues for the fourth quarter were $1,326,000 compared to revenues of $1,239,000 for the same period in FY2005. Net loss from continuing operations for the fourth quarter of 2006 was $418,000 or $0.10 per share compared to a net loss from continuing operations in the fourth quarter of FY2005 of $601,000 or $0.20 per share.
For the year ended October 31, 2006, the company had revenues of $5,693,000 compared with revenues of $5,648,000 for the year ended October 31, 2005. The net loss from continuing operations for the year ended October 31, 2006, was $1,287,000 or $0.35 per share compared to a net loss from continuing operations of $2,320,000 or $0.77 per share for FY2005. Net loss from discontinued operations for the year ended October 31, 2005, was $55,000 or $0.02 per share. There was no income or loss from discontinued operations for the year ended October 31, 2006.
"PPT VISION's IMPACT intelligent camera product line realized a unit volume increase of 40% and a dollar sales increase of 27% in FY2006 in comparison to FY2005," stated Joe Christenson, president of PPT VISION. "In fact, the company shipped more than 1000 IMPACT intelligent cameras for the first time in a given fiscal year. The fact that total revenue in FY2006 was flat in comparison to the prior year is due to the fact that sales of our phased-out legacy products declined by 81% on a year-over-year basis. Going forward, we now expect almost 100% of the company's revenue to be based on the IMPACT intelligent camera product line," concluded Christenson.
