Avcorp announces 2008 first quarter results

Avcorp Industriesm reported results for the quarter ended March 31, 2008. Revenue increased 14% to $31,151,000 for the quarter ending March 31, 2008, and cash flow from operations increased to $1,529,000 compared to $1,101,000 for the same quarter last year.

EBITDA of $1,375,000 was a significant improvement over the negative EBITDA of $1,282,000 incurred in the previous quarter. The Company had a loss of $423,000 for the quarter or $0.01 per share and expects this loss to be eliminated and to return to profitability for the remainder of the year.

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