Advanced Vision Technology Ltd. (AVT), based in Hod-Hasharon, Israel, has reported sales of US$25.1 million for 2005, an increase of 17.7 percent over the previous year. The company manufactures automatic optical inspection and quality assurance systems for the printing and packaging industry.
According to Shlomo Amir, president and CEO of AVT, profitability for 2005 grew 90.7 percent to US$4.2 million, up from US$2.2 million in 2004. Sales for the fourth quarter of 2005 amounted to US$6.6 million, an increase of 11.8 percent on the same period in 2004. The results represent the 16th consecutive quarter of growth for the company.
“The year 2005 was one of exciting growth for AVT,” says Amir. “We continued our penetration of the worldwide labels market, and revenues from that sector now account for approximately 20 percent.”
During the year, the company opened a representative office in Shanghai and participated in several trade shows in the Far East, as well as in Europe and the Americas. “We have also increased our presence and visibility in Eastern European countries as well as in Russia,” he adds. “All these new markets are developing quickly and the benefits in quality, waste reduction and production efficiency that AVT’s solutions can deliver will contribute to the ability of companies in these regions to satisfy their customers’ demands.”