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Integral Vision, Inc. Announces |
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Wixom, MI (May 14, 2009) - Integral Vision, Inc. (OTC Bulletin Board: INVI), a leading global supplier of automated display inspection technology, today announced financial results for the first quarter ending March 31, 2009. BUSINESS HIGHLIGHTS FIRST QUARTER 2009 FINANCIAL RESULTS Net revenue for the first quarter was $803,000 compared to $536,000 in the fourth quarter 2008 and $9000 in the first quarter 2008. Gross Margin for the first quarter was $475,000 or 59 percent of sales. This percentage compares to an average of 43 percent for the calendar year 2008. First quarter operating loss was $349,000 compared to an operating loss of $796,000 in the fourth quarter of 2008 and an operating loss of $750,000 in the first quarter of 2008. First quarter net loss was $527,000, or $0.02 per share, compared to a net loss of $988,000, or $0.03 per share, in the fourth quarter of 2008 and a net loss of $846,000, or $0.03 per share, in the first quarter of 2008. Charles J. Drake, Chairman and CEO of Integral Vision, Inc., commented, "Our improvement in financial results for the first quarter is further evidence of the significant traction our technology is achieving, and we are pleased to be an integral part of our customers' solutions as they seek to advance their technical innovation. We are experiencing strong sales, and our first quarter revenues and gross margin are the highest in recent years." Looking ahead, Drake added, "We expect sales increases in future quarters through 2009 and beyond. These sales improvements will come from markets that are growing in the current economy, namely, MEMS Display Technologies (Micro Electro-Mechanical Systems) and e-Paper (electronic paper). In addition, we expect to maintain or improve our first quarter margins, allowing the Company to obtain positive EBITDA in the near term. These improved margins bring positive cash flow and profitability within sight." TO ACCESS THE LIVE CONFERENCE CALL Integral Vision will host a live conference call at 4:30 p.m. (ET) on Thursday, May 14, 2009. To access the conference call, please call 480-629-9771 or 877-941-6010 approximately 5 to 10 minutes prior to the scheduled start time. TO ACCESS A REPLAY OF THE CONFERENCE CALL If you are unable to listen to the live conference call, it will be archived for replay. Shortly after the call, a telephonic replay will be available through Saturday, May 16, 2009 by dialing 303-590-3030 or 800-406-7325. The confirmation code 4075768 is required for the telephonic replay. COMPANY'S INVESTOR E-MAIL LIST To be added to Integral Visions investor email list, please contact Laura Guerrant of Guerrant Associates at lguerrant@guerrantir.com ABOUT INTEGRAL VISION, INC. Integral Vision, Inc. (OTC Bulletin Board: INVI) offers display inspection technology that provides analysis of functional and cosmetic defects in the display to assure quality in the manufacturing process as well as verification of the final product. Integral Vision has been inspecting displays since 1992 and is an industry leader committed to providing automated solutions to the quality issues Microdisplay, OLED and LCD manufacturers face in today's competitive marketplace. More information can be found at Website: www.iv-usa.com. "SAFE HARBOR" Statement under the Private Securities Litigation Reform Act of 1995 Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such factors and uncertainties include, but are not limited to: competitive conditions in the Company's markets and the effect of competitive products and pricing; technological development by the Company, its customers and its competition; the Company's available cash and access to debt and equity financing; and general economic conditions and conditions in the specific industries in which the company has significant customers. As a result, the Company's results may fluctuate. Additional information concerning risk factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's best estimates as of the date of this press release. The Company assumes no obligation to update such estimates except as required by the rules and regulations of the Securities and Exchange Commission. FINANCIAL INFORMATION The summary financial information contained in this press release, including the following information in tabular form, should be read in conjunction with the more detailed information contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2009 and the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2009. LINK TO TABLESTABLES Q109 (PDF) |
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Integral Vision Inc. 49113 Wixom Tech Drive Wixom, MI 48393 USA Tel: +1 248.668.9230 Fax: +1 248.668.9384 |