ISRA Vision reports double-digit revenue growth in first half of FY11
ISRA Vision increased revenues in the first half of financial year 2010/2011 by 20%, to 32.6 million Euros compared to the same period of the previous year. Earnings before taxes reached 5.7 million Euros.
ISRA Vision (ISIN:DE 0005488100; Darmstadt, Germany), a global system integrator of machine vision equipment, increased revenues in the first half of financial year 2010/2011 (October 1 to September 30) by 20%, to 32.6 million Euros compared to the same period of the previous year (27.3 million Euros). Earnings before taxes reached 5.7 million Euros.
Strong business developments from the first quarter continued in the second quarter across all the regions. In North America, revenues increased significantly. In the first half of 2010/2011, revenues in the Surface Vision segment increased by 22% to 27.8 million Euros. Order entries increased strongly, particularly for glass, plastics, and paper, so that these business units will contribute significantly in the second half of the financial year.
At the same time, the outlook for solar is very positive, partly as a result of the successful integration of Graphikon, which was acquired in the previous year. In the Industrial Automation segment, revenues increased by 8%. The increased order entries from the automotive industry had a positive impact on revenues and profit in the Industrial Automation segment and indicate a strong performance for the second half of the year.
ISRA continues to pursue the goal of surpassing the revenue threshold of 100 million Euros in the foreseeable future. The positive development in the first half of FY 2010/2011 underlines the efficiency of the measures taken by management. Growth by acquisition is part of the strategy and several targets are currently being analyzed. Management anticipates the conclusion of a further acquisition in 2011.
The positive revenue growth in the first half of 2010/2011,the order backlog of more than 40 million Euros (as of the end of May 2011), and the strong order entries form a solid basis for the current financial year. For FY 2010/2011, the company anticipates a double digit revenue growth to significantly more than 70 million Euros.
SOURCE: ISRA Vision
--Posted by Vision Systems Design