CAESAREA, Israel — March 29, 2016 — Elbit Vision Systems Ltd. (EVS), a producer of camera-based automatic vision inspection for textile fabrics and technical webs, announced today its consolidated financial results for the fourth quarter and full year ending December 31, 2015.

Sam Cohen, CEO of EVS commented, “We are very pleased with our 2015 results. They demonstrate strong revenue growth over the past year, with a significant increase in net profits. The main reason for the strong sales growth and high margins is the outstanding performance of our legacy products; IQ-TEX4 and SVA, as well as an increasing contribution from iBar.”

“Looking ahead, we expect to see continued growth from IQ-TEX4 and SVA, and we certainly expect iBar to have a significant impact on our future,” said Cohen. “We have had great success with our iBar installations so far and look for this product to spread throughout the industry.”

Fourth Quarter 2015 Results
Revenues for the quarter were $2.3 million, representing an increase of 18 percent compared to $2.0 million in the fourth quarter of 2014.

Gross profit for the quarter was $1.25 million, representing 53.2 percent of revenues, an increase of 14 percent compared to $1.1 million for the fourth quarter of 2014, which represented 55.3 percent of revenues.

Operating income for the quarter was $388 thousand (16.5 percent of revenue), an increase of 3.7 percent compared to $374 thousand (18.8 percent of revenues) in the fourth quarter of 2014.

Net income was $333 thousand (14.2 percent of revenue), an increase of 112 percent compared to $157 thousand (7.9 percent of revenues) in the fourth quarter of 2014.

Full Year 2015 Results
Revenues for the year were $9.1 million, representing an increase of 37 percent compared to $6.6 million in 2014.

Gross profit for the year was $5.2 million, representing 57.5 percent of revenues, an increase of 50 percent compared to $3.5 million for 2014, which represented 52.7 percent of revenues.

Operating income for the year was $2.3 million (24.8 percent of revenue), an increase of 121 percent compared to $1.0 million (15.4 percent of revenues) in 2014.

Net income was $2.1 million (23.2 percent of revenue), an increase of 222 percent compared to $658 thousand (9.9 percent of revenues) in 2014.

The Company reported a positive operating cash flow of $1.52 million for the year.

As of December 31, 2015, cash and cash equivalents were $3.3 million.

Posted March 29, 2016

Source: Elbit Vision Systems Ltd.

ALPHARETTA, Ga. — March 29, 2016 — Shopfloor Support LLC, an developer of wireless shop floor control (SFC) solutions, announces that Tullahoma Industries (TII) has successfully completed implementation of its advanced Shopfloor Eye^™ data collection and real-time production control solution in its Puerto Rico manufacturing operations. The producer of military uniforms, thermal underwear and protective apparel reports that deployment of the system across two of its manufacturing plants, a centralized cutting facility and its Tennessee headquarters has led to a 5-percent increase in productivity, improved production line supervision, and overall process visibility and control.

According to TII CEO Richard Davenport, “Almost immediately, Shopfloor Support gave us a measurable improvement in individual and plant productivity. In addition to eliminating traditional bundle tickets and gum sheets, the system provides production workers with real-time feedback that helps them monitor and pace themselves to reach higher productivity and incentive earnings. Plant managers and supervisors have gained better control over production bottlenecks, quality issues and time and attendance issues. At the corporate level, it enables us to monitor results at multiple locations and the movement of goods from cutting through production, finishing and packing.”

“While we have been interested in shop floor control systems for years, we did not find them accessible due to the disruptive installation requirements and cost of operation,” added Davenport. “When Shopfloor Support came along with their wireless, tablet-based system, we found a solution that our teams found easy to use and maintain. We are continuing to deploy it across all our operations.”

Shopfloor Eye represents a breakthrough in shop floor control by replacing traditional wired networking and proprietary terminals with Wi-Fi and standard Android^™-based tablets to collect and report on production events immediately as they occur. In contrast to the traditional two-line display terminals that require workers to enter cryptic key codes on a numeric keypad, this next-generation SFC solution provides a full, interactive graphic display that operates with a tap or a swipe. In addition to production data, these tablets also display visual assembly instructions and enable workers to alert to any issue.

“We are pleased with the opportunity to help Tullahoma Industries achieve the business improvements they need to better compete and profit,” noted Justin Hershoran, Partner at Shopfloor Support. “We are developing true partnerships with TII and our other diverse clients that will inspire our development for years to come and keep them ahead of their competition and fast-changing industry mandates.”

Posted March 29, 2016

Source: Shopfloor Support LLC

LYON, France — March 29, 2016 — In addition to its specialization in Formulation Chemistry, French engineering school ITECH is introducing two new majors as part of its European Master program. Responding directly to the needs of the industry, this unique program will offer majors in Plastic Materials and Textile Materials, beginning September 2016. This is in addition to the school’s major in Formulation Chemistry which is currently in its second year.

Jerome Marcilloux, Dean of ITECH, said: “Having been interested since the launch of this project, Europe’s textile and plastic manufacturing federations have supported ITECH’s Polymer Science program by sponsoring our majors in Plastic Materials and Textile Materials. These industries’ companies are experiencing the same difficulties in recruiting international engineers, as is the case for the paint industry.”

Taught entirely in English, the European Master program trains students to be fully operational immediately after graduation, providing leading companies from the sector with a recruitment pool of young, specialized engineers who are motivated to pursue international careers in polymer science.

Thanks to agreements with companies such as Textinov, and federations like Allizée Plasturgie and UNITEX, students are guaranteed internships throughout the three-year program, as well as financial aid in the form of scholarships. It is this investment by companies in ITECH’s students that makes this program so unique.

Graduate Job Opportunities

Graduates from ITECH’s French program are already working in companies such as Faurecia, Plastic Omnium, Bertrandt, Louis Vuitton, Hermes, and Decathlon for example, in roles as diverse as Leather Engineer, Industrial Project Manager, Production Manager and Head of Sustainability.

ITECH alumnus Cyrus Naderi said: “After graduating from ITECH’s French program with a major in the textiles field, I went to work in China. This boosted my career and the challenge took me out of my comfort zone. I have since put into practice the wide range of knowledge and skills acquired at ITECH: setting up a technical garment factory project, fabric development and sourcing, quality control and management. I am currently the head of Technical and Customer Care at the SgT Group, a B2B quality management service expert which serves over 100 fashion brands from mass market to luxury brands.”

Internships Guaranteed

The internship programme includes a minimum of 11 months practical work experience in a partner company, which may go on to recruit the student upon graduation. Depending on the company, students may carry out their internships in France or abroad, with at least one international. Graduates work in a range of positions, from research and development, through technical sales and marketing to production.

Scholarships

Financing by plastic and textile industry companies allows for selected students to gain full or partial scholarships. To apply for a scholarship, students are required to submit a three-minute video presentation of themselves explaining why they think they should win a scholarship, before July 12, 2016.

Admission

• The programme runs for 3 years.
• The next intake is in September 2016.
• Three internships totalling 11 months are included.
• A European Bachelor’s degree is required, in a science-related field.
• Partial or full scholarships are available.
• Regular tuition fees are €6500 per year.
• Register at inscription.itech.fr before June 17, 2016.
• Interviews will take place between June 22 and 29.
• The admissions jury will meet on July 12.

Posted March 29, 2016

Source: ITECH