Super Vision Reports Second Quarter Profit

Super Vision International, Inc. (NASDAQ Small Cap: SUPVA, Class A Common), manufacturer of LED and fiber-optic lighting products, signs, and displays for applications in the signage, swimming pool, architectural, and retail industries, has announced financial results for the quarter ended June 30, 2003.

Net income for the quarter was $116,500, or $0.05 per share, compared to net loss of $223,300, or ($0.09) per share, in the second quarter of 2002. The company reported net income despite a 25% decline in revenues for the quarter from $3.4 million in the second quarter of 2002 to $2.6 million in the same quarter of 2003. Net loss for the first six months of 2003 was $326,400 or ($0.13) per share compared to net loss of $396,500 or ($0.16) per share in the same period last year.

Gross margin for the second quarter of 2003 rose to 47% from 38% in the same quarter a year ago. Year-to-date gross margin improved to 40% from 39% for the first six months of 2002.

Selling, general, and administrative expenses for the quarter were $1 million compared to $1.4 million in the second quarter of 2002 or a decrease of approximately 24%. For the first six months of 2003, selling, general, and administrative expenses decreased to $2.1 million from $2.5 million for the same period in 2002 or a 16% decrease.

Brett Kingstone, president/CEO of Super Vision International, stated “We are beginning to see the positive results of our cost-cutting initiatives, enhanced quality control standards and re-engineering processes which we implemented in the latter part of the first quarter of this year. We will continue to focus on improving our gross margin and profitability, we will likewise focus on increasing revenue across the board through aggressive and more directed sales efforts.”

The company had cash and marketable securities of $1.6 million at June 30, 2003 compared to $1.2 million at March 31, 2003 with a current ratio of 5 to 1 compared to 3 to 1 at March 31, 2003.

Super Vision’s products are used in the architectural, lighting, landscape, sign and swimming pool industries. Super Vision’s SideGlow® cable is manufactured as a replacement for neon and Super Vision’s EndGlow® cable is manufactured for conventional downlighting and underwater/hazardous area lighting. Super Vision is owned in part by Cooper Industries (NYSE: CBE) and Hayward Industries, major manufacturers of lighting and pool products respectively. For more information, visit the Super Vision web site by clicking here.