PPT VISION, Inc. Reports Record Revenues for the Second Quarter

MINNEAPOLIS - PPT VISION, Inc. (Nasdaq: PPTV - news) has announced financial results for the second quarter ended April 30, 2000.  Net revenues for the second quarter were a record $4,125,000, an increase of 27% compared to net revenues of $3,247,000 for the same period in fiscal 1999.  The Company's net loss was $705,000 compared to a net loss of $406,000 for the same period in fiscal 1999.  For the three-month period ended April 30, 2000, the net loss was 13 cents per share, compared to a net loss of 8 cents per share for the same period in fiscal 1999.  The net loss for the second quarter of fiscal 2000 included legal expenses of $200,000 related to its previously announced lawsuit with National Instruments Corporation.  During the quarter the Company shipped and successfully installed its first PPT861™ system to a major manufacturer of disk drive components.  The PPT861™ system is an in-tray, 3D inspection system, equipped with PPT's patented SMI™ (Scanning Moiré Interferometry™) SpeedScan 3D™ sensor.  The PPT861™ system provides the flexibility to scan a wide range of in-tray semiconductor packages including BGA, CSP and mBGA as well as electronic connectors and hard drive components. 

For the six-month period, net revenues increased 65% to $8,232,000, compared with $4,982,000 for the previous year.  The Company reported a net loss of $1,245,000, compared to a net loss of $1,117,000 during the first six-months of the previous year.  Net loss per share for the six-month period was 24 cents vs. a net loss per share of 21 cents in the prior year. 

Machine vision systems unit sales for the three-month period ended April 30, 2000 totaled 174 compared to 97 for the same period in fiscal 1999.  Unit sales for the first six-months were a record 364 compared to 161 during the first six-months of the previous year.  The increase in units shipped during the quarter and year-to-date is attributed to continued strong performance both domestically and internationally in the Company's core markets including electronics and automotive. Since inception, PPT VISION has sold over 3,200 machine vision systems to over 270 customers.

"Our order flow remains strong and is expected to contribute to continued revenue growth for the second half of fiscal 2000," commented Mr. Joseph C. Christenson, President of PPT VISION, Inc.  "We anticipate further strength to come from the second-quarter worldwide launch of our patented DSL digital vision system in conjunction with a new version release of our Vision Program Manager software." 

Certified System Integrator Program

Set Yourself at the Forefront of the Global Vision Market

Vision system integrators certified by A3 are acknowledged globally throughout the industry as an elite group of accomplished, highly skilled and trusted professionals. You’ll be able to leverage your certification to enhance your competitiveness and expand your opportunities.

GET CERTIFIED

"Our commitment to product development with our Microelectronics Systems Division and our patented SMI 3D technology has resulted in the achievement of a major milestone with the shipment and successful installation of our first PPT861 system during the quarter.  We believe the PPT861 system which incorporates our SMI 3D and DSL 2D technologies will be a major factor of future growth at PPT," concluded Mr. Christenson.  

PPT VISION, Inc. designs, manufactures, markets, and integrates machine vision-based automated inspection systems for manufacturing applications such as electronic and mechanical assembly verification, verification of printed characters, packaging integrity, surface flaw detection, and gauging and measurement tasks. Machine vision-based inspection systems enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes. The Company's vision systems are sold throughout the Americas, Europe and Asia to a broad range of industry categories including manufacturers of automotive, electronic and semiconductor components, consumer goods, pharmaceuticals, medical device and plastics.  The Company's Common Stock trades on the Nasdaq National Market tier of The Nasdaq Stock Market under the symbol PPTV. For more information, please see the PPT VISION, Inc. web site at www.pptvision.com

Forward Looking Statements
The discussion above contains forward?looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements by their nature involve substantial risks and uncertainties as described by PPT VISION's periodic filings.  Actual results may differ materially depending on a variety of factors, including, but not limited to the following: changes in worldwide general economic conditions, cyclicality of capital spending by customers, PPT VISION's ability to keep pace with technological developments and evolving industry standards, worldwide competition, and PPT VISION's ability to protect its existing intellectual property from challenges from third parties and other factors.  Additional information with respect to the risks and uncertainties faced by PPT  VISION may be found in the section "Business" under the caption "Important  Factors Regarding Forward-Looking Statements" contained in its filing with the Securities and Exchange Commission on Form 10?K for the year ended October 31, 1999 and other reports filed with the Securities and Exchange Commission.