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Strong Quarter at AVS Affirms Demand for Advanced Data Visualization Software and Solutions(June 19, 2012)
WALTHAM, MA -- (Marketwire) -- 06/19/12 -- Data visualization software innovator Advanced Visual Systems (www.avs.com) (PINKSHEETS: AVSC) experienced a 54% increase in revenue and new customer activity in its third fiscal quarter resulting from increased demand for the company's analytics-centric software and professional services.
AVS, now in its twentieth year of operation, was an early developer of data visualization software -- initially for use by scientists and engineers working with large and complex types of technical data. As business intelligence became an important practice at the company's predominantly Fortune 2000-class clientele, AVS evolved its technology to meet the demands of corporate decision-makers by focusing on sophisticated analytics challenges at large Enterprise accounts and leading software vendors.
According to Steve Sukman, CEO of Advanced Visual Systems, "Demand for AVS software has traditionally come from the financial services and business intelligence sectors but emerging requirements from the social media, advertising and customer analytics fields represent significant opportunity and are ideally suited for our advanced software -- particularly where the data is big and requires complex integration and analysis."
AVS foresaw the emergence of predictive analytics, Big Data, cloud computing and mobile BI and incorporated rich in-memory and graphics rendering features into its flagship analytics product, OpenViz. The company is distinguished from the growing field of data visualization software vendors by its ability to create highly customized graphics from all types of data and a full-service consulting practice that helps clients implement best practices in advanced analytics.
The revenue increase for the quarter ended March 31, 2012 was based on a comparison of the same period for the fiscal year ending June 30, 2011. This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's public filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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