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EVS Receives $1.3M in Orders Including 50 iBar Systems

CAESAREA, Israel, Nov. 30, 2015 (GLOBE NEWSWIRE) -- Elbit Vision Systems Ltd. (OTC:EVSNF), a pioneer in the science of camera-based automatic vision inspection for textile fabrics and technical webs, announced today that it received orders totaling $1.3 million following the successful ITMA trade show in Milan. The orders included a signed contract for 50 iBar systems for one US-based customer, which is scheduled for delivery in the early part of 2016.

Mr. Sam Cohen, CEO of EVS, commented, "Our marketing and sales effort at the recent ITMA trade show was a tremendous success. We closed several significant orders at the show and we had many important discussions about future business. We signed one contract with a very important US partner for an additional 50 iBar systems which is our largest single order to date. These milestones highlight the escalation of our iBar land-and-expand strategy. Manufacturers are increasingly seeing our product as the unique solution for yield improvement that is a necessity in today's textile market. This order demonstrates to us that iBar is a product with unlimited potential."

EVS also announced that its Chief Executive Officer, Mr. Sam Cohen will present at the LD Micro Conference taking place at the Luxe Sunset Boulevard Hotel in Los Angeles, California, on Wednesday, December 2, 2015. The presentation is scheduled for 8:30am Pacific Time.

At the conference there will also be an opportunity for investors to meet one-on-one with Mr. Cohen. Interested investors should contact the conference organizers at LD Micro, or the Investor Relations team at Elbit Vision Systems at evs@gkir.com.

About Elbit Vision Systems Ltd. (EVS): www.evs.co.il

EVS offers a broad portfolio of automatic State-of-the-Art Visual Inspection Systems for both in-line and off-line applications, and process monitoring systems used to improve product quality, safety, and increase production efficiency. EVS' systems are used by over 800 customers, many of which are leading global companies.

This press release and other releases are available on www.evs.co.il.

Safe Harbor Statement

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

CONTACT: Company Contact Information: Yaron Menashe, CFO Tel: +972 4 6107609 yaron@evs.co.il Investor Relations Contact: Ehud Helft, Kenny Green Tel: +1 646 201 9246 evs@gkir.com

Source:Elbit Vision Systems Ltd.