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Elbit Vision revenues reach $6.1 mn for first quarter
23 May '08
3 min read
Elbit Vision Systems Ltd a global leader in the field of automatic in-line optical web inspection and quality monitoring systems, announced its consolidated financial results for the three month period ended March 31, 2008.
First Quarter 2008 Results:
Revenues for the first quarter of 2008 totaled $6.1 million, an increase of 20% compared to $5.0 million in the first quarter of 2007.
Non-GAAP gross profit for the first quarter of 2008 totaled $3 million, representing 49% of the Company's revenues, compared with $2.5 million in the first quarter of 2007, or 49.3% of revenues.
Gross profit on a GAAP basis totaled $2.8 million, representing 47% of revenues, compared with $2.4 million or 47% of revenues in the first quarter of 2007.
Non-GAAP operating profit for the first quarter of 2008 totaled $209 thousand, compared with $588 thousand in the first quarter of 2007.
Operating expenses in the quarter increased primarily due the decrease in the value of the Company's reporting currency, the US dollar, against the Israeli shekel in which a significant portion of the Company's expenses are generated.
Operating loss on a GAAP basis totaled was $9 thousand compared with $355 thousand in the first quarter of 2007.
Non-GAAP net profit for the first quarter of 2008 totaled $63 thousand, compared with a net profit of $350 thousand in the first quarter of 2007. Earnings per diluted share on a non-GAAP basis were $0.001.
First Quarter 2008 Results:
Revenues for the first quarter of 2008 totaled $6.1 million, an increase of 20% compared to $5.0 million in the first quarter of 2007.
Non-GAAP gross profit for the first quarter of 2008 totaled $3 million, representing 49% of the Company's revenues, compared with $2.5 million in the first quarter of 2007, or 49.3% of revenues.
Gross profit on a GAAP basis totaled $2.8 million, representing 47% of revenues, compared with $2.4 million or 47% of revenues in the first quarter of 2007.
Non-GAAP operating profit for the first quarter of 2008 totaled $209 thousand, compared with $588 thousand in the first quarter of 2007.
Operating expenses in the quarter increased primarily due the decrease in the value of the Company's reporting currency, the US dollar, against the Israeli shekel in which a significant portion of the Company's expenses are generated.
Operating loss on a GAAP basis totaled was $9 thousand compared with $355 thousand in the first quarter of 2007.
Non-GAAP net profit for the first quarter of 2008 totaled $63 thousand, compared with a net profit of $350 thousand in the first quarter of 2007. Earnings per diluted share on a non-GAAP basis were $0.001.
Elbit Vision Systems Ltd
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