Advanced Visual Systems Reports 2012 Growth and Profits
Demand for advanced data visualization software increases as business intelligence and analytics mature in the age of Big Data, the Cloud and social media
Advanced Visual Systems Inc. reported an increase in revenue and profits for the fiscal year ended June 30, 2012, marking twenty years as a visionary computer graphics brand. The data visualization software company provides tools and services to large corporations and software vendors creating business intelligence, risk management, healthcare and social media solutions.
Company revenues for the fiscal year rose 27% over 2011 to $3.38 million as a result of increased licensing of OpenViz, the company’s leading technology, and income from operations increased 246% to $204,000. After recognizing a one-time recovery of accrued interest expense and one-time costs associated with the issuance of stock and stock options the company recorded $732,000 in net income, an increase of 171% over the previous fiscal year.
According to Steve Sukman, CEO of Advanced Visual Systems, “Performance for fiscal 2012 reflects strong growth in licensing fees generated by commercial distribution of AVS software products. Our clients include a number of the world’s leading business and consumer brands whose data visualization strategies are highly influenced by our technology and roadmap.”
“We are particularly proud of the fact that a large number of AVS clients have been users of the company’s software for a decade or more—a significant nod to our product strategy and engineering heritage as well as key drivers of revenue quality and customer satisfaction. Several important clients reaffirmed their long-term commitment to AVS this fiscal year and we believe that that we can continue our growth trend in 2013.”
“Over the past year AVS announced a number of important new Enterprise and ISV clients (including Boeing, Dassault Simulia, Opera Solutions and Schrödinger), significant social media and mobile computing enhancements to its OpenViz API, and partnerships with Microsoft, Savvis and Kognitio. Collectively, these activities have positioned AVS as a continuing visionary in the fast-growing visual analytics industry and will enable the company to offer its sophisticated clientele with the high performance software, solutions and customer service that have become hallmarks of the AVS brand.”
For more information about Advanced Visual Systems visit www.avs.com, contact firstname.lastname@example.org or call (781) 890-4300.