AVT Announces 2012 Year-End Financial Results Revenues Jump Over 50%
CORONA, Calif., Feb. 19, 2013 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com) has announced their 2012 year-end unaudited financial results. Fully audited statements (10-Q) will be filed according to SEC requirements.
The financial statements show that the company exceeded projections in all key areas, and continued the trend of record breaking year-over-year revenues.
Total revenues for year-end 2012 were up over 50% from 2011: from $10.3 million to $15.4 million. Gross profits were up over 30%: from $6.2 million to $8.1 million. Cash on hand at year-end skyrocketed 243% to $610,000, or 88% of current payables. AVT's current ratio (current assets/current liabilities) on the balance sheet is 6.4 to 1.
"We are very pleased with our performance in all areas," commented James Winsor, CEO of AVT. "We have a clear vision of where we want to take our company and we continue to execute on that strategy."
AVT is a leading developer of customized automated retailing systems, micro-stores, and self-service retailing solutions. The company has shown consistent growth for the past several years, and has developed several new divisions to deliver multiple revenue streams.
Shannon Illingworth, Company Founder and Chairman, said that their business model is geared for success. "We are able to consistently increase revenues through several channels, including manufacturing, leasing, technology licensing, and company-owned systems," Illingworth stated. "Now with orders currently on hand for 2013 that are already significantly higher than our totals for 2012, we anticipate another year of substantial growth and record breaking revenues."
For more information on AVT, please call 800-240-5175 or visit the website at www.autoretail.com.
About AVT, Inc:
AVT is a leading developer of customized automated retailing systems, Micro-Stores, and self-service solutions. Divisions include design, manufacturing, software engineering, leasing, media, and technology licensing. AVT is able to work with any size company to design a custom automated retailing solution that drives traffic, increases sales, improves security, and lowers overhead. AVT is uniquely qualified to take projects from concept to completion with speed, economy and ingenuity. For more information, visit: www.Autoretail.com
AVT's stock is traded through the OTC Markets, Ticker Symbol: AVTC
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SOURCE AVT, Inc.