AMV posts healthy 2nd-quarter profits
Advanced Machine Vision Corp. reported record second-quarter sales andprofits.
The Medford-based company develops and sells computer-aided vision systemsused to sort defective goods from production lines.
The company earned $378,000, or — cents a share, on sales of $7.6 million.AMV lost $900,000 on sales of $6.4 million a year earlier. Along with theoperating profit, the company gained about $5 million from the sale of itsNetherlands subsidiary, Pulsarr. That brings the per-share profit to 22cents.
Sales increased by 19 percent in the second quarter.
For the first half of the year, sales increased 69 percent to $17 millionfor a profit of $1.15 million (9 cents a share) compared with a loss of$2.14 million last year.
The company's progress has been based on the sales of food processingequipment, said William J. Young, chairman, president and chief executive.Systems to handle recycled plastic, tobacco and wood products were stalledby cyclical lows in those industries.
The sale of Pulsarr also reduced the company's debt by $6.7 million andincreased its cash balance to $8.5 million since the first of the year,he added.
The company's subsidiaries include SRC Vision Inc. (formerly Simco/Ramic)in Medford and Ventek Inc. in Eugene. AMV was formerly known as ARC Capital;before that it was Applied Laser Systems.