In the 'will wonders never cease' category i nominate INVI...now INVIC as they were bumped down from the nasdaq national to the nasdaq small cap and carry a 'C' until they satisfy the nasdaq small cap requirements...if they don't they will probably go to the OTC BB but that don't matter 'cause we are ALIVE!!...folks gave this one up for dead but it seems prematurely...numbers out tonite follow this Kodak release and they are lousy but that's then and this is now...the "SHARP EYE" is why i bot the stock in the first place.....trades at .27/.29 on Nasdaq (but be aware they may go OTC BB):
(PR NEWSWIRE) Integral Vision Announces SharpEye Order from Kodak
Integral Vision Announces SharpEye Order from Kodak
FARMINGTON HILLS, Mich., Aug. 8 /PRNewswire/ -- Integral Vision, Inc.
(Nasdaq: INVIC) today announced that it has received an order for a "SharpEye"
inspection station from the Eastman Kodak Company to be used for the
inspection of organic light-emitting diode (OLED) displays. Kodak is a major
developer of OLED technology, holding numerous patents on OLED technology that
are being licensed by a number of companies. Integral Vision's "SharpEye"
product provides online inspection and analysis of functional and cosmetic
defects in the display to assure quality in the manufacturing process as well
as verification of the final product.
"With our focus for the future on display inspection, we are very pleased
to be working with Kodak, an industry leader in this emerging technology,"
said Charles J. Drake, CEO of Integral Vision, Inc. "Our corporate goal is to
become the inspection solution provider of choice for all of the manufacturers
of these devices."
OLED technology is based on thin organic films that emit light when
stimulated with an electric charge. The emitted light can be individual
colors of red, green or blue, or they can be combined to create full-color,
high-resolution images. OLED displays provide a clear and distinct image
viewable from a very wide (165-degree) angle and require relatively little
power. Licensees of Kodak's OLED display technology include Pioneer
Corporation; TDK Corporation; Nippon Seiki Co., Ltd.; eMagin Corporation;
Rohm, Ltd.; Ritek Corporation; TECO Electric & Machinery Co., Ltd.; Opsys
Limited; ULVAC; and Sanyo Electric Co., Ltd., a Kodak joint-development
partner.
Integral Vision has been inspecting displays since 1992 and is presently
focusing its resources on the inspection of Small Flat Panel Displays (SFPD)
up to 7" diagonal. Integral Vision provides lab and production systems
capable of detecting and analyzing defects to a sub pixel level on even the
highest resolution SFPD's.
Integral Vision, Inc., an ISO 9001 registered firm, offers machine vision-
based inspection systems to the industrial manufacturer. Integral Vision is a
leading supplier of machine vision systems used to monitor or control the
manufacturing process. Vision systems are used to supplement human inspection
or provide quality assurance when production rates exceed human capability.
More information can be found at Website: www.iv-usa.com .
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements made pursuant
to the safe harbor provisions of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. Such statements are based on
management's current expectations and are subject to a number of factors and
uncertainties which could cause actual results to differ materially from those
described in the forward-looking statements. Such factors and uncertainties
include, but are not limited to: competitive conditions in the Company's
markets and the effect of competitive products and pricing; technological
development by the Company, its customers and its competition; the Company's
available cash and access to debt and equity financing; and general economic
conditions and conditions in the specific industries in which the company has
significant customers As a result, the Company's results may fluctuate.
Additional information concerning risk factors that could cause actual results
to differ materially from those projected in the forward-looking statements
are contained in the Company's filings with the Securities and Exchange
Commission. These forward-looking statements represent the Company's best
estimates as of the date of this press release. The Company assumes no
obligation to update such estimates except as required by the rules and
regulations of the Securities and Exchange Commission.
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE Integral Vision, Inc.
-0- 08/08/2001
/CONTACT: Charles J. Drake of Integral Vision, Inc., +1-248-471-2660,
facsimile, +1-248-615-2971, email, cdrake@iv-usa.com /
/Web site: iv-usa.com /
(INVIC)
CO: Integral Vision, Inc.; Eastman Kodak Company
ST: Michigan
IN: CPR OTC
SU:
*** end of story ***
(COMTEX) B: Integral Vision Reports Second-Quarter Results
B: Integral Vision Reports Second-Quarter Results
FARMINGTON HILLS, Mich., Aug 9, 2001 /PRNewswire via COMTEX/ -- Integral
Vision, Inc. (Nasdaq: INVIC) today announced results for the second quarter
ended June 30, 2001.
The Farmington Hills, Mich.-based manufacturer of inspection devices for the
high-tech sector reported that its net loss narrowed to $1.6 million, or $0.18
per share, on net sales of $669,000 in the second quarter of 2001, compared with
a net loss of $1.9 million, or $0.21 per share, on net sales of $1.8 million in
the same period last year. The decrease in revenues resulted primarily from
decreased sales of the Company's liquid crystal inspection and disc
identification/print inspection products.
"We are focusing our resources on display-inspection technology and making
progress, as evidenced by our new relationship with Kodak," said Charles Drake,
chairman and chief executive officer of Integral Vision. "Our goal is to become
the inspection solution provider of choice for manufacturers of small flat panel
displays. We believe that this technology will generate significant new business
and will ultimately allow us to increase shareholder value."
Integral Vision announced earlier this week that it has received an order for a
"SharpEye" inspection station from the Eastman Kodak Company to be used for the
inspection of organic light-emitting diode (OLED) displays. Kodak is a major
developer of OLED technology, holding numerous patents on OLED technology that
are being licensed by a number of companies. Integral Vision's "SharpEye"
product provides online inspection and analysis of functional and cosmetic
defects in the display to assure quality in the manufacturing process as well as
verification of the final product.
Integral Vision also reported that on July 27, 2001 it closed on the sale of the
Farmington Hills, Mich. building where it is headquartered. The Company will
continue to occupy a portion of the building under a lease agreement with the
new owner. Integral Vision also reported that it is exploring the sale of other
assets as well as strategic alliances and other operating initiatives to help
support the Company's cash flow needs.
For the six months ended June 30, 2001, Integral Vision reported a net loss of
$3.6 million, or $0.40 per share, on net sales of $1.7 million, compared with a
net loss of $2.9 million, or $0.32 per share, on net sales of $3.7 million in
the same period last year.
On July 31, 2001, the Company was notified that the Nasdaq Hearing Panel made
the decision to transfer the listing of the Company's securities to the Nasdaq
SmallCap Market where its symbol will be INVIC. Although the Company failed to
meet the requirements for a listing on that market, the Company was granted a
temporary exception from this standard subject to meeting certain conditions.
The exception will expire on August 15, 2001. In the event the Company is deemed
to have met the terms of the exception, it shall continue to be listed on The
Nasdaq SmallCap Market. If the Company fails to meet the terms of the exception,
the Company's common stock would be transferred to the Over The Counter Bulletin
Board (OTCBB).
Company Background
Integral Vision is a publicly owned ISO 9001 registered company. The company's
stock is traded on The Nasdaq SmallCap Market under the symbol INVIC. Integral
Vision's headquarters is in the United States with support branches in
Singapore, Japan, Korea, England, and The Netherlands. Visit Integral Vision on
the Web at www.iv-usa.com .
Except for the historical information contained herein, the matters discussed in
this press release are forward-looking statements made pursuant to the safe
harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Act of 1934. Such statements are based on management's current
expectations and are subject to a number of factors and uncertainties which
could cause actual results to differ materially from those described in the
forward-looking statements. Such factors and uncertainties include, but are not
limited to: competitive conditions in the Company's markets and the effect of
competitive products and pricing; technological development by the Company, its
customers and its competition; the Company's available cash and access to debt
and equity financing; and general economic conditions and conditions in the
specific industries in which the company has significant customers. As a result,
the Company's results may fluctuate. Additional information concerning risk
factors that could cause actual results to differ materially from those
projected in the forward-looking statements are contained in the Company's
filings with the Securities and Exchange Commission. These forward-looking
statements represent the Company's best estimates as of the date of this press
release. The Company assumes no obligation to update such estimates except as
required by the rules and regulations of the Securities and Exchange Commission.
CONSOLIDATED STATEMENTS OF OPERATIONS
Integral Vision, Inc. and Subsidiary
Three Months Ended June 30,
2001 2000
(Unaudited)
(In thousands, except per share data)
Net revenues $669 $1,785
Costs of sales:
Direct costs of sales 519 1,441
Depreciation and amortization 478 476
Total costs of sales 997 1,917
Gross margin (328) (132)
Other costs and expenses:
Marketing 426 611
General and administrative 416 473
Engineering and development:
Expenditures 528 857
Allocated to capitalized software
and direct cost of sales (111) (182)
Net engineering and development expenses 417 675
Total costs and expenses 1,259 1,759
Operating loss (1,587) (1,891)
Interest income 35 85
Interest expense (56) (48)
Loss from operations before income taxes (1,608) (1,854)
Provision (credit) for income taxes - -
Net loss $(1,608) $(1,854)
Basic and diluted earnings per share $(.18) $(.21)
Weighted average number of shares of
common stock and common stock equivalents,
where applicable 9,030 9,026
CONSOLIDATED STATEMENTS OF OPERATIONS
Integral Vision, Inc. and Subsidiary
Six Months Ended June 30,
2001 2000
(Unaudited)
(In thousands, except per share data)
Net revenues $1,651 $3,749
Costs of sales:
Direct costs of sales 1,055 2,288
Depreciation and amortization 961 1,014
Total costs of sales 2,016 3,302
Gross margin (365) 447
Other costs and expenses:
Marketing 947 1,185
General and administrative 778 917
Engineering and development:
Expenditures 1,242 1,765
Allocated to capitalized software and
direct cost of sales (242) (410)
Net engineering and development expenses 1,000 1,355
Total costs and expenses 2,725 3,457
Operating loss (3,090) (3,010)
Interest income 92 171
Interest expense (128) (94)
Loss from operations before income taxes (3,126) (2,933) |
