From the Wires
AVT Updates Financial Forecast
Revised revenues forecasted at over $50 million by 2014
By: PR Newswire
Dec. 17, 2012 08:40 AM
CORONA, Calif., Dec. 17, 2012 /PRNewswire/ -- AVT, Inc. (OTC Bulletin Board: AVTC) (www.autoretail.com) updated its financial guidance for the periods through 2014. The move came after the recent new orders from large customers exceeded expectations. The company's planned expansion into new markets, products and services is moving ahead of schedule.
As a leader in providing customized automated solutions to retailers, businesses, brand owners and entrepreneurs, AVT is poised to significantly increase revenues in the next 24 months.
AVT is targeting a new market niche, by both building and operating a significant number of the new automated Marley Coffee Stores. These innovative systems provide customers with the world's finest blends and a coffee-shop experience, but without the wait and at about half the cost. The company plans on deploying 1000 of these units by the end of 2013.
AVT has also recently created a new division, which will be marketing and licensing AVT's patented technologies. Revenues from this division are expected to begin in 1st quarter 2013.
AVT is also creating a leasing and finance division that will enable customers to start new businesses or expand existing automated retailing operations with ease and simplicity. Revenues from this division are expected to make a notable contribution to the company's bottom line.
Accordingly, company management adjusted AVT's long-term financial guidance upward.
The revised financial forecast shows over $12 million in increased revenues for year-end 2013, from $14 million projected for 2012, up to $26 million in 2013, growing up to $50 million by year-end 2014.
Income is also expected to make substantial gains – up to $9 million in 2013 and $13 million in 2014.
James Winsor, CEO of AVT, Inc., stated that revised forecast is based on several factors. "We have updated our projections for 2012 based on increased manufacturing volume in 4th quarter, and are projecting significant gains in the two years to come due to our implementation of the new Marley Coffee Stores, and the revenues we will realize from our licensing and leasing divisions."
The projections, while significant, are still conservative and reflect realistic expectations of company growth, according to Winsor. "We are in the right market, at the right time, with the right products and the right services," he commented. "Our anticipated growth is happening faster than initial forecasts, but is completely in line with market conditions and demand."
For more information about AVT, please visit the website at: www.autoretail.com, or call the Investor Relations Department at: 800-240-5175
AVT, Inc. is a high quality leader in the automated retailing industry, offering technology solutions at 50% less than the best-known competitor.
AVT is able to work with any size company to design a custom automated retailing solution that drives traffic, increases sales, improves security, and lowers overhead. With an in-house design team, software developers, mechanical engineers and on-site manufacturing, AVT can take projects from concept to completion with speed and cost efficiency.
AVT's stock is traded through the OTC Bulletin Board Markets, Ticker Symbol: AVTC.OB.
For more information on AVT, custom vending, or the Automated Retailing Industry, visit www.autoretail.com or call the Investor Relations Department at 800-240-5175.
The financial guidance above was not prepared with a view toward complying with the guidelines established by the American Institute of Certified Public Accountants with respect to prospective financial information, but, in the view of our management, was prepared on a reasonable basis, reflects the best currently available estimates and judgments, and presents, to the best of management's knowledge and belief, the assumptions on which we base our financial guidance.
However, this information is not fact and should not be relied upon as being necessarily indicative of future results, and we undertake no obligation to release publicly the results of any future revisions we may make to this financial information to reflect events or circumstances after the this press release.
Neither our independent auditors nor any other independent accountants have compiled, examined or performed any procedures with respect to the prospective financial information contained herein, nor have they expressed any opinion or any other form of assurance on such information or its achievability, and they assume no responsibility for, and disclaim any association with, the prospective financial guidance information.
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"This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "believe," "think", "should" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's expectations and estimates.
SOURCE AVT, Inc.
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