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Second Quarter 2007 Results |
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Wixom, MI (August 14, 2007) - Integral Vision, Inc. (OTC Bulletin Board: INVI), a leading global supplier of automated display inspection technology, today announced financial results for its second quarter ended June 30, 2007. HIGHLIGHTS - SECOND FISCAL QUARTER ENDED JUNE 30, 2007OPERATING RESULTS FOR THE SECOND QUARTER OF FISCAL 2007 ENDED JUNE 30, 2007 Revenue for the second quarter of fiscal 2007 was $94,000, compared to first quarter of fiscal 2007 revenue of $316,000 and second quarter fiscal 2006 revenue of $338,000. The Company noted that shipments for the second quarter increased over shipments for the prior quarter. Charles J. Drake, chairman and CEO of Integral Vision, said, "Much of the value of the second quarter's shipments is in deferred revenue, which is largely due to a timing issue. Based on the terms of an order, a portion of the value was recognized or invoiced in July." Drake added, "While revenues for the second quarter declined, we fully anticipate that third quarter fiscal 2007 revenues will not only return to levels previously seen this fiscal year, but will exceed them." Net loss for the second quarter of fiscal 2007 was $866,000, or $0.03 loss per share, compared to net loss for the first quarter of fiscal 2007 of $747,000, or $0.03 loss per share, and compared to a net loss for the second quarter of fiscal 2006 of $762,000, or $0.03 loss per share. Drake commented on the Company's prospects, "Activity continues to improve, and in the near future we expect to see significant opportunities for orders of our inspection systems from many of the companies we have been working with for a number of years. In particular, the companies that have significant investments in the emerging display technologies of OLED and MEMS devices present considerable opportunity. "It is also significant to note that we have recently introduced the LumenEye, a new product for LCD inspection. The system will be sold and fully supported by our representatives in Korea, Taiwan, and Japan, all of whom have a large and experienced organization with specific expertise selling into the display industry. The market for these systems is substantial and well suited to our sales and support network." Drake concluded, "Our confidence in the future prospects of the Company has never been stronger." TO ACCESS THE LIVE CONFERENCE CALL Integral Vision will host a live conference call at 4:30 p.m. (ET) on Tuesday, August 14, 2007. To access the conference call, please call 303-205-0055 or 866-249-6463 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 August 16, 2007, by dialing 303-590-3000 or 800-405-2236. The confirmation code 11094737 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), an
ISO 9001 registered firm, 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.
A transcript of a recent interview by our CEO, which gives an overview
of the Company, can be found at: "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 Form 10-QSB filed with the Securities and Exchange Commission on August 14, 2007, and the Company's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission on March 19, 2007. LINK TO TABLESQ207 TABLES (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 |