FEBRUARY 17--PPT VISION Inc. (Minneapolis, MN; www.pptvision.com) has announced financial results for the first quarter ended January 31, 2004. Revenues for the first quarter were $2,431,000, which represents an increase of 14% compared to revenues of $2,124,000 for the same period in FY2003. The company's net loss was reduced by 70% to $346,000 or $0.03/share compared to a net loss of $1,187,000 or $0.12/share for the same period in fiscal 2003.
"We are very pleased to see our first-quarter revenue increase by 14% over the prior year's first quarter. This increase is reflective of gradual improvement of capital spending in the manufacturing sector and positive customer acceptance of our new IMPACT 2-D machine-vision product line. Importantly, our 2-D product line revenue increased by 37% over the prior year while 3-D revenue contracted. The contraction of 3-D revenue was caused by our strategic shift in this past year to selling our SpeedScan 3D product through OEMs and system integrators as opposed to developing and supporting completely automated turnkey systems. This change in our 3-D business model has substantially reduced our operating costs and improved the prospects for profitability of our 3-D business," stated Joseph C. Christenson, president of PPT VISION.
PPT VISION develops and markets 2-D and 3-D machine vision-based automated inspection systems for manufacturing applications. Machine vision-based systems enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes. The company's 2-D and 3-D machine-vision product lines are sold on a global basis to OEMs, system integrators, machine builders, and end users, primarily in the electronic and semiconductor component, automotive, medical device, and packaged-goods industries.