On Track Innovations Ltd. (NASDAQ: OTIV), a global leader in contact-less microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced its consolidated financial results for the year ended December 31, 2009.
Financial Highlights:
1. Revenues of $31.4 Million ($38.2 Million Including Discontinued Operations)
2. Gross Margin Increased to 47%
3. Net Cash Provided by Operating Activities of $5.1 Million
4. $32 Million in cash, cash equivalents and short terms investments at year end
On Track Innovations is extremely optimistic for 2010 as they see a 50% increase in Revenues. The CEO wasn’t exactly clear on how this was going to happen, however, some of this will be coming from Poland and there new transit ticketing project. They also estimate that gross margins will be up to 48-50% in the upcoming year.
The key thing with this company is what they will be doing with all the excess cash on hand, $32M to be exact. This could be used to buy back stock, something investors would like, or it could be used to market in new countries. This seemed to be the theme of the questions coming from the investors.
It will also be interesting to see how the sale of their one lagging asset affects operating expenses and if it can further improve cash flow.
Financial Highlights:
1. Revenues of $31.4 Million ($38.2 Million Including Discontinued Operations)
2. Gross Margin Increased to 47%
3. Net Cash Provided by Operating Activities of $5.1 Million
4. $32 Million in cash, cash equivalents and short terms investments at year end
On Track Innovations is extremely optimistic for 2010 as they see a 50% increase in Revenues. The CEO wasn’t exactly clear on how this was going to happen, however, some of this will be coming from Poland and there new transit ticketing project. They also estimate that gross margins will be up to 48-50% in the upcoming year.
The key thing with this company is what they will be doing with all the excess cash on hand, $32M to be exact. This could be used to buy back stock, something investors would like, or it could be used to market in new countries. This seemed to be the theme of the questions coming from the investors.
It will also be interesting to see how the sale of their one lagging asset affects operating expenses and if it can further improve cash flow.
No comments:
Post a Comment