Elbit Vision Systems Ltd. (fka EVSNF)

[Lt_investor]

This is from their latest earnings press release: (see the red highlights)

Revenues at $2.5 million & Net Income of $528 thousand

Third Quarter 2016 highlights

Revenue of $2.5 million with continued sequential growth expected into Q4;
Gross and operating margins at 54.9% and 22.3%, respectively;
Net income of $528 thousand, representing 21.3% of revenues;
Shareholders’ equity reached $5.3 million (versus $2.2 million at quarter-end Q3 2015)
Quarter-end cash and equivalents were $3.95 million (versus $2 million at quarter-end Q3 2015)

CAESAREA, Israel, Nov. 22, 2016 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTCBB:EVSNF), a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today its consolidated financial results for the quarter ending September 30, 2016.

Third Quarter 2016 Results

Revenues for the quarter were $2.5 million, representing a decrease of 15% compared to the $2.9 million reported in the third quarter of 2015.

Gross profit for the quarter was $1.4 million (54.9% of revenues), compared to $1.8 million (60.3% of revenues) for the third quarter of 2015.

Operating income for the quarter was $554 thousand (22.3% of revenue), compared to $915 thousand (31.5% of revenues) in the third quarter of 2015.

Net income was $528 thousand (21.3% of revenue), compared to $929 thousand (31.9% of revenues) in the third quarter of 2015.

Management Comment

Sam Cohen, CEO of EVS commented, “We are pleased with these results which continue to show a very strong year for us. Demand for our legacy products remains solid especially in Asia, while iBar sales increasingly trend upward. Looking ahead, we expect to see sequential revenue growth into the fourth quarter, which implies revenues of around $10 million for the full year of 2016. We see this as a substantial achievement, demonstrating strong growth in recent years. We also expect to end 2016 with around $4.7 million in cash with no bank debt on the balance sheet, enabling us to capitalize on potential opportunities which can help us accelerate our growth.”

Link:https://globenewswire.com/news-release/2016/11/22/891992/0/en/Elbit-Vision-Systems-Announces-Third-Quarter-2016-Results.html