Micronet Enertec (MICT) Reports Q2 Loss of $0.13

Micronet Enertec (NASDAQ: MICT) reported Q2 EPS of ($0.13). Revenue for the quarter came in at $4.7 million.

"Our operating MRM business marked solid improvements across multiple financial measures. Gross margin increased to 32% and 30% respectively, for the three and six months ended June 30, 2018, increases of 98% and 184%, respectively, compared to the three and six months ended June 30, 2017. Revenue increased by 25% and 65% to $4.7 million and $10.7 million for the three and six months ended June 30, 2018, respectively, and we see improvements in the operating income as compared to the year-ago periods for both the second quarter and the first six months of 2018," stated David Lucatz, Chief Executive Officer of MICT. "Having closed on the sale of Enertec Systems, we reported a net income from discontinued operations of $4.8 million for the second quarter and strengthened our balance sheet. We believe that our subsidiary, Micronet Ltd.'s, improving operating results combined with the closing of the sale of Enertec puts our Company in a strong position to move forward into a potential M&A transaction that may potentially create greater value for our shareholders."

For earnings history and earnings-related data on Micronet Enertec (MICT) click here.

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