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AVT, Inc. Profitable in 2nd Quarter; Revenues Top $863,000; 10Q Filed With SEC
Tuesday August 26, 8:30 am ET
CORONA, Calif., Aug. 26 /PRNewswire-FirstCall/ -- AVT, Inc. (formerly Automated Vending Technologies), Pink Sheets: AVTC, today announced it has filed a Form 10-Q with the U.S. Securities and Exchange Commission for the period ended June 30, 2008.
The document can be viewed at
The Company's revenues for the second quarter 2008 totaled $863,380, up 20 percent compared to revenues of $718,796 for the same period in 2007. Net income for the second quarter of 2008 totaled $52,148 compared to a loss of $4,797 in the period ended June 30, 2007. Operating income (before income taxes) totaled $86,897 in the second quarter of 2008.
"This is yet another important step forward in realizing our important goal to become fully reporting and to list on the Over the Counter Bulletin Board," said Shannon Illingworth, Founder.
"AVT, Inc. is an innovative vending operator and manufacturer of technology based vending solutions and equipment. We use our exclusive technologies to drive our vending innovations which are in various stages of development. AVT's technology staff enables us to design and control all of our unique products while keeping the 'edge' on all of our developed products," Mr. Illingworth said.
"Our goal is to be the leader in technology based vending and product dispensing solutions that are reflective of today's 'got to have it now' consumers. We strive to grow our business by developing superior customer solutions, adapting new technologies, and pursuing appropriate mergers and acquisitions. Our growth is dependent upon the development of new technology, the incorporation of advertisement on the vending machines, the sales of our RAM 4000 and RAM 5000 systems, the introduction of the next generation Product Dispensing Centers, and the development of revolutionary vending technologies," AVT's Founder said.
AVT, Inc. (Pink Sheets: AVTC - News) is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising with remote tracking and inventory management. AVT has grown privately for five years and has a strong balance sheet with current revenues, inventory and assets. AVT currently serves more than 300 government and commercial vending accounts in Southern California.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
AVT, Inc.
James Winsor

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