EVS Q2 loss halved at $225,000
Revenue for the second quarter of 2005 was $4.44 million, an increase of 185% over last year.
Globes correspondent 10 Aug 05 16:28
Elbit Vision Systems(Nasdaq: EVSNF.OB), a provider of automatic optical inspection and quality monitoring systems, today announced its consolidated financial results for the first half and second quarter ended June 30, 2005.
The net loss for the first half of 2005 was $342,000, compared with a net loss of $1.4 million, for the first half of 2004. The company noted that excluding amortization related to 2004 acquisitions, the net loss was $34,000 for the first half of 2005.
The net loss for the second quarter of 2005 was $225,000, compared with a net loss of $521,000 for the second quarter of 2004.
Revenue for the first half of 2005 was $8.59 million, an increase of 266% compared with $3.23 million in the first half of 2004.
Revenue for the second quarter of 2005 was $4.44 million, an increase of 185% compared with $2.4 million in the second quarter of 2004
EVS CFO Yaky Yanay said, “We are pleased with our results for the first half and second quarter of 2005, which were in line with our internal projections. We expect that the significant increase in revenues will pave the way for a return to profitability. We are delighted with the continued growing demand for all our product lines, which indicates that we are well positioned for strong growth ahead.”
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, August 10, 2005
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