AVT Reports Record Revenues for 2007

Gross profit increased to USD 23 million up from USD 17.6 million in 2006, up 30 percent.

AVT’s net profit for the year (excluding GMI) totalled USD 6.7 million, up 23 percent over 2006. GMI’s loss in Q4 2007 totalled USD 1.8 million (mostly attributable to USD 2.23 million amortization of acquired intangibles) leading to a net profit of USD 4.82 million compared with USD 5.4 million in 2006. Proforma net profit excluding amortization of intangibles increased to $7.05 million, up 30.6 percent over 2006.