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Advanced Machine reports losses

Advanced Machine Vision Corp., the parent company of SRC Vision, lost $576,000 in the first quarter of 1999, the company reported Thursday.

Sales fell to $5.1 million in the first quarter of 1999 from $7.1 million for the same quarter a year ago. The company's first-quarter losses work out to 5 cents per share, compared with a profit of 2 cents a share in 1998.

Advance Machine Vision, which manufactures optical sorting equipment, is traded on the Nasdaq as AMVC.

The company's backlog of work as of March 31 was also markedly lower than a year ago, at $5.6 million this year, down from $8.8 million in 1998. The company has since received a large order from Georgia Pacific Group that raises in the 1999 backlog to $6.9 million.

Company president William Young expects improvement in operating results based on the Georgia Pacific order and the release of SRC Vision's latest optical sorting system over the next few months.