Gross profit for the quarter was US 1.12 million, representing 58.5% of revenues, an increase of 40% compared to US 800,000 for the second quarter of 2014, which represented 50.9% of revenues.

Operating income for the quarter was US 502,000, an increase of 115%, compared to US 234 thousand in the same period of 2014. Net income was US 493,000, compared to US 16,000 in the second quarter of 2014.

Consistent growth

“We are very pleased with our second quarter results. They demonstrate strong year-over-year growth in revenue and a significant increase in net profits. Strong sales in our core products, IQ-TEX4 and SVA, along with ever increasing iBar sales have provided a consistent and growing backlog of orders, which gives clear visibility into revenues for the coming quarters,” said Sam Cohen, CEO of EVS.

“Based on this, we are expecting full year 2015 revenues of around US 10 million with net income of around US 2.3 million. We believe that EVS is now at the inflexion point where several positive trends are converging, and this will lead to significant and accelerating growth for EVS in 2015 and beyond.”

Elbit Vision Systems

EVS offers a broad portfolio of automatic state-of-the-art visual inspection systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency. EVS' systems are used by over 800 customers, many of which are leading global companies.

www.evs.co.il