AVT, (www.autoretail.com), released consolidated financial statements for the period ending June 30, 2011, and they showed strong gains in key areas.
In the report filed with the SEC, revenues climbed from the end of first quarter 2011, to the end of second quarter. Gross profit also showed substantial increases.
Second quarter income surged from first quarter, a fact that company founder Shannon Illingworth attributes to the move of many projects from development, to pilot programs, to mass production.
“AVT continues to execute on our business plan, which identified key areas where we could attain leadership positions; develop the products that would meet these market needs; and turn our pilot programs into production on a large scale basis.”
Further details on the company and more information on AVT and their self-service retailing systems, customized vending solutions, and automated stores, can be found on the company websites at: www.autoretail.com.
Advanced Technology Includes Biometric Fingerprint Recognition
AVT, Inc., (Ticker: AVTCD.PK) (www.autoretail.com), continues to revolutionize the vending and automated retailing industries by offering an ATM-style kiosk that provides prescription medicine refills directly to consumers, 24-hours a day, without the need for a pharmacist or store employee.
This breakthrough system uses advanced biometric fingerprint recognition and a high definition camera to validate each transaction.
The automated prescription kiosks are being produced in partnership with Medicine Dispensing Systems, and have been awarded a U.S. Patent.
“Automated prescription dispensing will soon be in every city in America, and will be the way most people obtain their medicines,” stated Vincent Mehdizadeh, CEO of Medicine Dispensing Systems. “It provides a huge convenience factor, as customers no longer have to stand in long lines or wait for their prescriptions to be filled,” he added. “Plus it lowers overhead for retailers, reduces human error, and minimizes loss due to shrinkage.”
Further details on the new automated prescription medicine dispensing systems can be found on AVT’s websites at: www.autoretail.com, along with general information about AVT and their self-service retailing systems, customized vending solutions, and automated stores.
AVT, Inc. is a leading developer of automated and self-service retailing systems. AVT’s stock is currently traded through the OTC Markets, Ticker Symbol: AVTCD.PK
AVT, Inc. (Ticker: Ticker: AVTC.PK) (www.autoretail.com) has received a new multi-million dollar line of credit from PMF Bancorp.
The credit line is intended primarily to help support AVT’s growing list of new production orders for units being placed nationwide, including in Walmart stores, major airports, hotels, health clubs and malls throughout the country.
AVT is a leader in the automated retailing industry, and designs and manufactures self-service retailing solutions for some of the top brands and retailers in the world.
The company is growing rapidly, which has necessitated developing and sourcing new production facilities and distribution centers. According to IPODesktop analyst Francis Gaskins , comparing the June 2011 quarter with the June 2010 quarter, AVT’s revenue skyrocketed 150%, while gross profit leaped 95%.
PMF Bancorp is a U.S. based commercial bank lender specializing in custom working capital programs for domestic and foreign companies with branch offices throughout China and expertise in helping U.S. companies looking for financing structure and credit guarantees on Chinese companies and manufacturing partners.
In addition to proving a guaranteed line of credit, PMF Bancorp will extend their Chinese banking and business relationships to AVT to help the company procure needed production, assembly and materials, quickly, reliably, and at less cost.
For more information on AVT, please call 877.424.3663 or visit the website at www.autoretail.com.