On Track Innovations (OTIV) Misses Q1 EPS by 1c, Miss on Revenues

On Track Innovations (NASDAQ: OTIV) reported Q1 EPS of ($0.02), $0.01 worse than the analyst estimate of ($0.01). Revenue for the quarter came in at $4 million versus the consensus estimate of $5.08 million.

Q1 2017 Operational Highlights

• Received purchase orders for thousands of cashless payment solutions for the growing fast food self-serve kiosk market, to be delivered during 2017.
• Received purchase order for first installment of cashless payment systems sale into Japanese market
• Enhanced sales organization depth and capabilities with the appointment of Larry Susman as Vice President of Sales

Q1 2017 Financial Details

• Total quarterly revenue decreased to $4.0 million, a 28% decrease from $5.6 million in the prior quarter and a 12% decrease from $4.6 million in the same year-ago period.
• Gross profit as a percentage of revenues increased to 55%, a 12% increase over 43% in the prior quarter and an increase of 4% over 51% in the same year-ago period.
• Operating expenses decreased to $2.9 million, a 13% decrease from $3.4 million in the prior quarter and a 3% decrease from $3.0 million in the same year-ago period.
• Net cash used in continuing operating activities decreased 43% to $0.7 million compared to $1.2 million in the same year-ago period.
• Cash, cash equivalents and short-term investments at March 31, 2017 totaled $10.8 million, a decrease of 6% from December 31, 2016 and an increase of 13% from the same year-ago period.

For earnings history and earnings-related data on On Track Innovations (OTIV) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Rein Therapeutics Inc. (RNTX) Tops Q2 EPS by 39c