November 19, 2017

728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads
728 x 90 Leaderboard Ads

Pointer Telocation Reports Third Quarter 2017 Financial Results

THIS POST WAS ORIGINALLY PUBLISHED ON THIS SITE Click Here To Read Entire Article

ROSH HAAYIN, Israel, Nov. 15, 2017 /PRNewswire/ —

Financial Highlights of the Quarter

Record revenues of $20.2 million, up 27% year-over-year; Recurring service revenues of $13.3 million, up 27% year-over-year; Record EBITDA of $3.6 million, up 87% year-over-year; Total subscribers reached 249,000, an increase of 26% year-over-year;

Pointer Telocation Ltd. (NASDAQ CM: PNTR)  (TASE: PNTR) – a leading provider of telematic services and technology solutions for Fleet Management, Mobile Asset Management and Internet of Vehicles, announced its financial results for the third quarter of 2017.[1]

Financial summary for the third quarter of 2017

Revenues for the third quarter of 2017 increased 27% to a record $20.2 million as compared to $15.9 million in the third quarter of 2016.

Revenues from products in the third quarter of 2017 increased 28% to $6.9 million (34% of revenues) compared to $5.4 million (34% of revenues) in the comparable period of 2016.

Revenues from recurring services in the third quarter of 2017 increased 27% to $13.3 million (66% of revenues) compared to $10.5 million (66% of revenues), in the comparable period of 2016. The growth in service revenue was primarily due to the growth in the subscriber base which grew by 51,000 subscribers since September 30, 2016 and 10,000 subscribers since June 30, 2017.

Gross profit was $10.5 million (51.8% of revenues) compared to $7.8 million (49.2% of revenues) in the third quarter of 2016.

Operating income on a GAAP basis was $2.9 million (14.4% of revenues), an increase of 108%, compared with $1.4 million (8.8% of revenues) in the third quarter of 2016.

Non-GAAP operating income was $3.1 million (15.3% of revenues), an increase of 71% compared to $1.8 million (11.4% of revenues) in the third quarter of 2016.

GAAP net income was $1.9 million (9.3% of revenues), an increase of 163% compared to $0.7 (4.5% of revenues) million reported in the third quarter of 2016.

Non-GAAP net income was $2.3 million (11.4% of revenues), an increase of 61%, compared with $1.4 million (9.0% of revenues) in the third quarter of 2016.

EBITDA was $3.6 million (17.8% of revenues), an increase of 87% compared with $1.9 million (12.1% of revenues) in the third quarter of 2016.

Cash and cash equivalents totaled $7.0 million and total debt was $11.6 million. Operating cash flow in the quarter was $3.3 million.

Management Comment

David Mahlab, Pointer’s Chief Executive Officer, commented: “We

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: