Elbit Vision Systems Ltd. Reports Over $2M In Sales Since Restructuring

Top Quote Company achieves more sales in four months than in all of 2009. End Quote
  • (1888PressRelease) October 19, 2010 - Cesarea, Israel - Elbit Vision Systems Ltd. (OTCBB: EVSNF.OB) announced today that since the completion of the restructuring of the Company and sale of ScanMaster, in June 2010, it has completed the sale of over $2M in automated vision inspection (AOI) devices. The sales since the restructuring are greater than the sales of AOI devices by the Company during all of 2009.

    Mr. Sam Cohen, EVS' CEO and Chairman said: "Thanks to the Company's excellent management and logistical teams, we managed to meet all the deadlines for the manufacture and supply of products. Despite moving our offices and manufacturing facilities following the restructuring, we continued to maintain high quality of our products..

    Even with the huge increase in orders, our production team has continued to keep pace, and this together with our significant reduction in overheads is sure to be reflected in our 3rd and 4th quarter results. I am delighted to say that our belief in the Company and its customers has been more than repaid. Since the restructuring, the Company's financial condition has improved dramatically and we are looking to the future with great optimism and enthusiasm."

    About Elbit Vision Systems Ltd. (EVS):

    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 600 customers, many of which are leading global companies.

    Safe Harbor:
    This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

    This press release and other releases are available on

    Yaron Menashe, CFO
    Phone: +972-4-610-7609
    Email: yaron ( @ ) evs dot

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