SOURCE: Automated Vending Technologies

July 09, 2007 12:05 ET

Automated Vending Technologies Reports Gross Profits Up 300 Percent

CORONA, CA--(Marketwire - July 9, 2007) - Automated Vending Technologies (PINKSHEETS: AVDT), which has transformed food and beverage vending into a cutting edge business with the first fully integrated vending solutions in the industry, today said that a recently completed audit shows a 300 percent increase in gross profits in 2006 compared to 2005, as technology significantly reduced maintenance costs and spoiled products.

In addition, AVDT also said the first quarter of 2007 has resulted in the first profitable first quarter in the Company's history. The exact numbers will be released shortly.

"This is proof of two things. That innovative management can turn a stagnant industry, the vending machine business, into a success and that the technological advances we have brought to this industry are paying off for the Company and its shareholders," said Kevin Illingworth, President and CEO.

The audit also showed an increase in total assets from $4.1 million at year's end 2005 to $10.3 million in 2006, a 250 percent increase. "The patents and software that Automated Vending Technologies has been so carefully acquiring and developing are now being put to work in the marketplace," Mr. Illingworth said.

"Financial reports for the current fiscal year show continued record growth," Mr. Illingworth said. "We are very pleased with these achievements in 2007."

About Automated Vending Technologies

AVDT has emerged as a leader in integrated vending solutions company in the competitive vending industry. Since 2001, the Company has grown from providing vending route operations to a fully operating company with strategically established partnerships and subsidiaries. The Company prides itself on not only providing top quality vending products, but also streaming video through its revolutionary vending technology.

Automated Vending Technologies, Inc. (PINKSHEETS: AVDT) is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising with remote tracking and inventory management. AVDT has grown privately for 5 years and has a strong balance sheet with current revenues, inventory and assets. AVDT currently serves more than 300 government and commercial vending accounts in Southern California.

Forward-Looking Statements

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

Contact Information

  • Contact:
    Automated Vending Technologies, Inc.
    Kevin Illingworth
    President
    951-737-1057

    Mercantile Ascendency
    Vince Duhon
    214-461-3500

    Market News First
    Angela Junell
    214-461-3411
    ajunell@MN1.com