AVT Reports Record Results

2008 first quarter operating income decreased 22.5 percent from $1.0 million in Q1 2007 to $791,000. Excluding the amortization of GMI intangibles and integration costs, proforma operating income increased by 101 percent from $1.0 million in Q1 2007 to $2.1 million in Q1 2008.

Net income decreased to $1.1 million ($1.5 million for the respective period in 2007), mostly attributable to the amortization of GMI’s intangibles. Proforma net income (excluding amortization of intangibles) increased 38.5 percent from $1.5 million to $2.1 million.