Valor has been trading on the Neuer Markt in Frankfurt since May 15, 2000, and has reported revenues of US$ 7.0 million in its software solutions business for the first quarter. Compared to the same period in 1999 this represents an increase of 64% or US$ 2.8 million. "During the first months of the year we succeeded in growing the acceptance of our products in the electronics PCB/PCA design market while also establishing them in the assembly and test CAM market. Also, the maturity of the Frontline PCB Solutions (Valor/Orbotech) joint venture has contributed to an increase in sales in the fabrication sector. We expect this positive trend to continue throughout the remaining quarters of 2000," explained Schmil Dolberg, CEO at Valor.

Earnings before interest and taxes (EBIT) showed a positive development as well. Compared to the same period in 1999, EBIT increased from US$ 271,000 to US$ 869,000. The Q1 net profit of US$ 632,000 substantially surpassed (by 133%) the US$ 271,000 recorded for Q1 1999. Itsik Ben Yesha, CFO at Valor, was pleased with the results. "During Q1 2000, Valor was able to attract many new customers. Sales have grown considerably compared to previous years."

During the remaining quarters of 2000 the company plans to continue its strong investment program for its Enterprise 3000 DFx system and Trilogy 5000 assembly and test product, as well as expanding its unique internet-based Valor Parts Library (VPL) service.