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Elbit Vision Systems Q1 $1.34 million

Staff writer |
Elbit Vision Systems Ltd. announced its consolidated financial results for the three month period ending March 31, 2014. Revenues for the first quarter were $1.34 million, representing an increase of 6.3% compared to $1.26 million in Q1 2013.

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Gross profit on a GAAP basis for the quarter was $0.65 million, representing 48.3% of revenues, compared to $0.6 million for the first quarter of 2013, representing 47.4% of revenues. Gross margins improved due to the increase in revenues.

Operating income on a GAAP basis for the quarter was $151 thousand compared with an operating loss of $2 thousand in the first quarter of 2013.

Net income on a GAAP basis for the quarter was $175 thousand, compared to a net loss of $59 thousand in the first quarter of 2013.


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