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BVR Systems, an Israeli manufacturer of military simulation systems, announced a net loss of $0.2 million for Q1 2005, compared with a net loss of $0.2 million in Q1 2004. Q1 revenues are up to $4.9 million, compared to $2.9 million in Q1 2004.
The company completed a major re-financing round last year, raising more capital from past shareholders (presumably Koor Industries?), banks, and the current controlling shareholder, Chun Holdings LP (which according to Globes is a limited partnership including BVR's founder Aviv Tzidon, Israeli company Aeronautics Defense Systems Ltd. and Singapore companyPrescient Systems & Technologies Pte Ltd. (owned by Singapore Technologies Engineering) are limited partners, though you would hardly know it from their websites.
Again according to Globes, the company fired half its staff late in 2003. BVR claims an order backlog of $16.5 million, but is clearly still in turn-around mode.
Its website lists five US patents:
- GPS-Based Anti-Collision Warning System
- Method and System of Communication between Moving Participants
- Animating Three Dimensional Images by Selectively Processing Intermediate Animation Frames
- Airborne Avionics Simulator System
- Method of Selecting an Optimal Communication Channel