Pointer Telocation (PNTR) Misses Q1 EPS by 1c, Slight Beat on Revenues

Pointer Telocation (NASDAQ: PNTR) reported Q1 EPS of $0.21, $0.01 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $20.9 million versus the consensus estimate of $20.22 million.

Financial summary for the first quarter of 2018

• Revenues for the first quarter of 2018 increased 10% to a record $20.9 million as compared to $19.0 million in the first quarter of 2017.
• Revenues from products in the first quarter of 2018 increased 6% to $7.1 million (34% of revenues) compared to $6.7 million (35% of revenues) in the comparable period of 2017.
• Revenues from services in the first quarter of 2018 increased 12% to $13.8 million (66% of revenues) compared to $12.3 million (65% of revenues), in the comparable period of 2017. The growth in service revenue was primarily due to the growth in the subscriber base which grew by 34,000 subscribers since March 31, 2017.
• Gross profit was $10.9 million (52.4% of revenues) compared to $9.4 million (49.3% of revenues) in the first quarter of 2017.
• Operating income on a GAAP basis was $2.6 million (12.3% of revenues), an increase of 14%, compared with $2.3 million (11.9% of revenues) in the first quarter of 2017.
• Non-GAAP operating income was $3.1 million (14.8% of revenues), an increase of 19% compared to $2.6 million (13.7% of revenues) in the first quarter of 2017.
• GAAP net income was $1.8 million (8.5% of revenues), compared to $1.6 million (8.2% of revenues) million reported in the first quarter of 2017.
• Non-GAAP net income was $2.5 million (11.8% of revenues), an increase of 7%, compared with $2.3 million (12.0% of revenues) in the first quarter of 2017.
• Fully diluted earnings per share based on a GAAP basis in the first quarter was $0.21 per share, compared to $0.19 per share in the first quarter of 2017.
• Fully diluted earnings per share based on a non GAAP basis in the first quarter was $0.30 per share, compared to $0.29 per share in the first quarter of 2017.
• EBITDA was $3.3 million (15.7% of revenues), an increase of 5% compared with $3.1 million (16.3% of revenues) in the first quarter of 2017.
• Operating cash flow in the quarter was $2.3 million.

For earnings history and earnings-related data on Pointer Telocation (PNTR) click here.

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