On Track Innovations Ltd Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides EBITDA Guidance for 2017
For the period, the company reported total revenues were $10,966,000 against $9,382,000 a year ago. Operating loss from continuing operations was $530,000 against $1,195,000 a year ago. Loss from continuing operations before taxes on income was $640,000 against $1,350,000 a year ago. Net loss from continuing operations was $696,000 against $1,382,000 a year ago. Net loss attributable to shareholders was $772,000 against net income attributable to shareholders of $448,000 a year ago. Basic and diluted net loss from continuing operations was $0.02 against $0.03 a year ago. Basic and diluted net loss per share was $0.02 against basic and diluted net income per share of $0.01 a year ago. EBITDA from continuing operations was $53,000 against negative EBITDA from continuing operations of $578,000 a year ago. Total adjusted EBITDA from continuing operations was $227,000 against negative total adjusted EBITDA from continuing operations of $473,000 a year ago. Net cash used in continuing operating activities was $2,257,000 against $1,197,000 a year ago. Purchase of property and equipment, net was $98,000 against $139,000 a year ago.
The company will continue to see growth within its different verticals and present a positive adjusted EBITDA in 2017.