AVT, Inc. Announces Fiscal Year 2011 Operating and Financial Results Record Revenues in 2011; 82% Increase Compared to 2010.
CORONA, Calif., April 17, 2012 /PRNewswire/ -- AVT, Inc. (Ticker: AVTC.PK) (www.autoretail.com) announces its 2011 operating and financial results.
The Company's total revenues for 2011 increased to $10.3 million or 82% from $5.6 million in 2010. Net income for the year ended December 31, 2011 was $1.3 million or $0.05 per diluted share, compared to a net income of $22 thousand, or $0.01 per diluted share for 2010.
Shannon Illingworth, Founder and Chairman stated: "We are very pleased with the continuing growth in our business, specifically the Automated Retailing Division. Our increased sales are due in part to the fact that major retailers and brand owners see the many benefits of automated retailing, including lowering costs, expanding distribution, and improving inventory control."
AVT's operating results in 2011 showed record sales and strong improvement over prior years gross profit margins. "We will continue to be very aggressive with our sales initiatives, and we will follow prudent fiscal management to ensure we maintain a strong balance sheet," continued Mr. Illingworth.
To view the AVT Inc. Form 10-K, visit www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8544701
AVT, Inc. is a leading developer of automated and self-service retailing systems. 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. With an in-house design team, software developers, mechanical engineers and on-site manufacturing, AVT can take projects from concept to completion with speed, economy and ingenuity.
For more information on AVT, please call 877.424.3663 or visit the website at www.autoretail.com.
SOURCE AVT, Inc.