On Track Innovations Ltd (OTIV) Reports In-Line Q2 EPS

On Track Innovations Ltd (NASDAQ: OTIV) reported Q2 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $7.2 million versus the consensus estimate of $6.02 million.

Management Commentary "During Q2 we made strong progress executing on our plan to grow our core cashless payment solutions business," said the company's CEO Ofer Tziperman. "This was demonstrated by the 58% revenue increase in the quarter, driven by our industry-leading technology and expanded salesforce.

"The quarter was also highlighted by several customer wins across all of our verticals. This included the first order for our new Trio modular reader.

"We plan to build on this operational and financial momentum and take advantage of the strong industry tailwinds in the cashless payments space.

"Given this tremendous market opportunity, coupled with our focus and leaner, highly capable team, we continue believe we will be able to deliver at least 30% revenue growth in 2014, as well as achieve positive adjusted EBITDA on a quarterly basis by Q1 2015."

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

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