On Track Innovations LtdNASDAQ
Fri, Nov. 18, 1:01 PM
Wed, Nov. 9, 8:42 AM
Wed, Aug. 10, 8:32 AM
Mon, Aug. 1, 12:00 PM
Mon, Aug. 1, 9:21 AM| Mon, Aug. 1, 9:21 AM | 11 Comments
Thu, Jul. 14, 12:03 PM
Tue, Jul. 12, 12:00 PM
Tue, May 10, 8:39 AM
- On Track Innovations (NASDAQ:OTIV): Q1 EPS of -$0.02 beats by $0.02.
- Revenue of $4.9M (-1.6% Y/Y) beats by $0.51M.
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Wed, Mar. 23, 9:45 AM
- On Track Innovations (OTIV +10.9%) has surged above $1.00 after beating Q4 estimates while reporting 5% Y/Y sales growth, a turnaround from Q3's 29% decline.
- Financials: Cost cuts by new CEO Shlomi Cohen led operating expenses to drop 6% Q/Q and 19% Y/Y to $4.1M - $1.9M was spent on sales/marketing, $1.3M on G&A, and $900K on R&D. Gross margin was 51% vs. 55% in Q3 and 46% a year ago. Oti ended 2015 with $10.9M in cash, down $600K Q/Q.
- Cohen talks up recent customer wins and Oti's European expansion. "These wins ... have allowed us to enter new verticals and geographic regions, including Spain, Portugal, Italy and the Czech Republic. oti's solutions are now distributed in two of the top six vending markets in Europe, which account for approximately one million machines. Collectively, our Pan European distributor network represents an incremental two million vending machines opportunity for oti."
- Oti's Q4 results, earnings release
Wed, Mar. 23, 8:34 AM
- On Track Innovations (NASDAQ:OTIV): Q4 EPS of -$0.03 beats by $0.02.
- Revenue of $5.72M (+4.8% Y/Y) beats by $1.19M.
- Shares +1.09% PM.
Tue, Mar. 22, 5:30 PM
Mon, Mar. 14, 5:23 PM
- More than six months after announcing a restructuring program meant to make the company's operations "more efficient and more focused" - it followed the appointment of Shlomi Cohen as CEO - On Track Innovations (OTIV +3%) says the program is finished.
- Personnel has been reduced in "non-strategic areas" by nearly 20%, and salaries cut at Oti's HQ by 10% across the board. The company has also outsourced certain manufacturing processes.
- Cohen: "These changes will significantly reduce our operating expenses in 2016, enhance gross margins, and make us more competitive in the marketplace." Possibly not unrelated: CFO Shay Tomer stepped down in January.
Wed, Mar. 9, 10:53 AM
- On Track Innovations (OTIV +9.5%) has received "significant" follow-on orders for its Saturn NFC readers from "a North American-based customer serving the self-serve market segment." Shipments are due to start in Q1.
- "We believe there are additional opportunities to expand our relationship further with this customer," says CEO Shlomi Cohen. Shares have made new 52-week highs, but are still down over 50% from a 52-week high (set in March 2015) of $1.84.
Mon, Feb. 1, 9:52 AM
- On Track Innovations (OTIV +9.6%) has named Barcelona-based vending machine distributor Nexus Machines its exclusive distributor for the Iberian Peninsula.
- Oti: "Nexus Machines will incorporate oti's leading NFC-based cashless readers and CONNECT 3000 vending telemetry controller into its installed base of vending machines, as well as into future manufactured vending machines. oti's CONNECT 3000 is designed to enable communication between vending machines, allowing operators to remotely manage a specific machine or an entire fleet. The companies are to go-to-market with the integrated system immediately."
- Shares are back above $0.50 on light volume; they're still down sharply over the last 12 months. A new CFO was named last week.
Mon, Jan. 25, 8:55 AM