ROSH HAAYIN, Israel,
Aug. 15, 2018 /PRNewswire/ --
Pointer Telocation Ltd. (Nasdaq: PNTR) (TASE: PNTR), a
leading provider of telematic services and technology solutions for
Fleet Management, Mobile Asset Management and Internet of Vehicles,
announced its financial results for second quarter and six months
ended June 30, 2018.
Financial Highlights for Second Quarter 2018 Compared to
Second Quarter 2017
- Total revenue of $19.7 million,
down 1% due to foreign currency exchange headwinds
- Service revenues of $13.2
million, up 2%
- Operating income of $2.8 million
(14% of revenue), unchanged from the prior-year period
- Net income of $1.9 million, down
2% due to foreign currency exchange headwinds
- EBITDA of $3.4 million, unchanged
from the prior-year period
- Net debt of $0.4 million
- Total subscribers reached 271,000, an increase of 13%
year-over-year
Financial Highlights for First Half of 2018 Summary Compared
to First Half 2017
- Total revenue of $40.6 million,
up 4%
- Service revenues of $27.0
million, up 7%
- Operating income of $5.3 million
(13% of revenue), up 5% from $5.1
million
- Net income of $3.7 million, up 5%
from $3.5 million
- EBITDA of $6.7 million, up 2%
from $6.5 million
Management Comment
David Mahlab, Pointer's Chief
Executive Officer, commented:
"This was a solid quarter, as we increased our service revenue
despite headwinds from currency exchange rates, and we delivered
double-digit operating margins and strong earnings.
"During the period, we continued to advance our capabilities in
predicting driver behavior through our machine learning technology.
We are building a platform that will harness our real-time driver
data to deliver more efficient, cost-effective products and
services to our customers. Our markets are expanding, particularly
in the Americas, and we are positioned to pursue these
opportunities."
Second Quarter 2018 Financial Summary Compared to Second
Quarter 2017
|
(in millions,
except per share amounts)
|
June 30,
2018
|
June 30,
2017
|
|
Total
Revenues
|
$19.7
|
$20.0
|
|
Service
Revenues
|
$13.1
|
$12.9
|
|
Operating Income (%
of Revenue)
|
$2.8 (14%)
|
$2.8 (14%)
|
|
Diluted Earnings per
Share (EPS)
|
$0.23
|
$0.24
|
|
Non-GAAP Diluted
EPS
|
$0.31
|
$0.32
|
|
EBITDA
|
$3.4
|
$3.4
|
First Half 2018 Financial Summary Compared to First Half
2017
|
(in millions,
except per share amounts)
|
June 30,
2018
|
June 30,
2017
|
|
Total
Revenues
|
$40.6
|
$39.1
|
|
Service
Revenues
|
$27.0
|
$25.2
|
|
Operating Income (%
of Revenue)
|
$5.3 (13%)
|
$5.1 (13%)
|
|
Basic and Diluted
Earnings per Share (EPS)
|
$0.46
|
$0.44
|
|
Non-GAAP Diluted
EPS
|
$0.60
|
$0.61
|
|
EBITDA
|
$6.7
|
$6.5
|
Revenues from services increased 2% to $13.1 million as compared to $12.9 million in the second quarter of 2017 due
to subscriber growth. In local currencies terms, revenues increased
by 8%. Revenues from products in the second quarter of 2018
declined to $6.6 million from
$7.1 million in the second quarter of
2017. The currency exchange rate impact on total revenue for the
second quarter of 2018 was approximately $1
million; the currency exchange rate impact on operating
income was approximately $0.1
million.
Conference Call Information
As previously announced, Pointer Telocation's management will
host a conference call today, at 10:00 a.m.
Eastern Time, 3:00 p.m. UK
time, 17:00 p.m. Israel time. On the call, management will
review and discuss the results. To listen to the call, please dial
in to one of the following teleconferencing numbers. Please begin
placing your call a few minutes before the conference call
commences.
Dial in numbers are as follows:
From the USA
+1-877-407-0789 or 1-201-689-8562
From Israel 1-809-406-247
From the UK
0-800-756 -3429
A replay will be available a few hours following the call on the
company's website for one year.
Reconciliation between results on a GAAP and Non-GAAP
basis
Reconciliation between results on a GAAP and Non-GAAP basis is
provided in a table immediately following the Condensed Interim
Consolidated Statements of Cash Flows.
Pointer uses EBITDA, Non-GAAP operating income and net income as
Non-GAAP financial performance measurements.
Pointer calculates EBITDA by adding back to net income financial
expenses, taxes and depreciation and amortization of intangible
assets.
Pointer calculates Non-GAAP operating income by adding back to
operating income the effects of non-cash stock based compensation
expenses, amortization of long lived assets, other expenses of
retirement costs and losses and acquisition related one-time
costs.
Pointer calculates Non-GAAP net income by adding back to net
income the effects of non-cash stock based compensation expenses,
amortization of long lived assets, non-cash tax expenses, other
expenses of retirement costs, spin-off related expenses and losses
and acquisition related one-time costs.
The purpose of such adjustments is to give an indication of the
Company's performance exclusive of Non-GAAP charges that are
considered by management to be outside of the Company's core
operating results.
EBITDA and non-GAAP operating and net income are provided to
investors to complement the results provided in accordance with
GAAP, as management believes these measures help to illustrate
underlying operating trends in the Company's business and uses
these measures to establish internal budgets and goals, manage the
business and evaluate performance. Management believes that these
non-GAAP measures help investors to understand the Company's
current and future operating cash flow and performance, especially
as the Company's acquisitions have resulted in amortization and
non-cash items that have had a material impact on the Company's
GAAP profits. EBITDA and non-GAAP operating and net income should
not be considered in isolation or as a substitute for comparable
measures calculated and should be read in conjunction with the
Company's consolidated financial statements prepared in accordance
with GAAP. These non-GAAP financial measures may differ materially
from the non-GAAP financial measures used by other companies.
About Pointer Telocation
For over 20 years, Pointer has rewritten the rules for the
Mobile Resource Management (MRM) market and is a pioneer in
the Connected Car segment. Pointer has in-depth knowledge of
the needs of this market and has developed a full suite of tools,
technology and services to respond to them. The vehicles of the
future will be intimately networked with the outside world,
enhancing and optimizing the in-car experience.
Pointer's innovative and reliable cloud-based
software-as-a-service (SAAS) platform extracts and captures an
organization's critical mobility data points – from office,
drivers, routes, points-of-interest, logistic-network, vehicles,
trailers, containers and cargo. The SAAS platform analyzes the raw
data converting it into valuable information for Pointer's
customers providing them with actionable insights and thus enabling
the customers to improve their bottom line and increase their
profitability.
For more information, please visit http://www.pointer.com, the
content of which does not form a part of this press release.
Risks Regarding Forward Looking Statements
Certain statements made herein that use words such as
"estimate," "project," "intend," "expect," "'believe", "may",
"might", "predict", "potential", "anticipate", "plan" or similar
expressions are intended to identify forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 and other securities laws. For example, when the Company
discusses its platform that will harness its real-time driver data
to deliver better products and services, trends in the markets and
various territories as well as the future of the car industry and
future opportunities, it is using forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties that could cause the actual results, performance or
achievements of the Company to be materially different from those
that may be expressed or implied by such statements, including,
among others, changes in general economic and business conditions.
For additional information regarding these and other risks and
uncertainties associated with the Company's business, reference is
made to the Company's reports filed from time to time with the U.S.
Securities and Exchange Commission. The Company does not undertake
to revise or update any forward-looking statements for any
reason.
|
INTERIM
CONSOLIDATED BALANCE SHEETS
|
|
U.S. dollars in
thousands
|
|
|
|
June
30,
2018
|
|
December 31,
2017
|
|
|
Unaudited
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
7,168
|
|
7,375
|
|
Trade and unbilled
receivables
|
|
13,657
|
|
13,660
|
|
Other accounts
receivable and prepaid expenses
|
|
3,692
|
|
2,865
|
|
Inventories
|
|
5,621
|
|
6,551
|
|
|
|
|
|
|
Total current
assets
|
|
30,138
|
|
30,451
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
Long-term loan to
related party
|
|
949
|
|
973
|
|
Long-term unbilled and
other accounts receivable
|
|
1,303
|
|
1,116
|
|
Severance pay
fund
|
|
3,094
|
|
3,546
|
|
Property and
equipment, net
|
|
5,670
|
|
5,848
|
|
Other intangible
assets, net
|
|
1,458
|
|
1,935
|
|
Goodwill
|
|
38,324
|
|
41,010
|
|
Deferred tax
asset
|
|
8,515
|
|
9,585
|
|
|
|
|
|
|
Total long-term
assets
|
|
59,313
|
|
64,013
|
|
|
|
|
|
|
Total assets
|
|
89,451
|
|
94,464
|
|
|
|
|
|
|
INTERIM
CONSOLIDATED BALANCE SHEETS
|
|
U.S. dollars in
thousands
|
|
|
|
June
30,
|
|
December
31,
|
|
|
2018
|
|
2017
|
|
|
Unaudited
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
Short-term bank credit
and current maturities of long-term loans
|
|
4,154
|
|
5,101
|
|
Trade
payables
|
|
5,609
|
|
6,204
|
|
Deferred revenues and
customer advances
|
|
761
|
|
777
|
|
Other accounts payable
and accrued expenses
|
|
8,248
|
|
9,117
|
|
|
|
|
|
|
Total current
liabilities
|
|
18,772
|
|
21,199
|
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
Long-term loans from
banks
|
|
3,421
|
|
5,015
|
|
Deferred taxes and
other long-term liabilities
|
|
355
|
|
838
|
|
Accrued severance
pay
|
|
3,572
|
|
3,996
|
|
|
|
|
|
|
Total long term
liabilities
|
|
7,348
|
|
9,849
|
|
|
|
|
|
|
COMMITMENTS AND
CONTINGENT LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
EQUITY:
|
|
|
|
|
|
Pointer Telocation
Ltd.'s shareholders' equity:
|
|
|
|
|
|
Share
capital
|
|
6,049
|
|
5,995
|
|
Additional paid-in
capital
|
|
129,489
|
|
129,076
|
|
Accumulated other
comprehensive income
|
|
(6,907)
|
|
(2,340)
|
|
Accumulated
deficit
|
|
(65,544)
|
|
(69,597)
|
|
|
|
|
|
|
Total Pointer
Telocation Ltd.'s shareholders' equity
|
|
63,087
|
|
63,134
|
|
|
|
|
|
|
Non-controlling
interest
|
|
244
|
|
282
|
|
|
|
|
|
|
Total
equity
|
|
63,331
|
|
63,416
|
|
|
|
|
|
|
Total liabilities and
equity
|
|
89,451
|
|
94,464
|
|
INTERIM
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
U.S. dollars in
thousands, except for share and per share
information
|
|
|
|
Six months
ended
June
30,
|
|
Three months
ended
June
30,
|
|
Year
ended
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2017
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
|
13,637
|
|
13,829
|
|
6,578
|
|
7,147
|
|
26,182
|
|
Services
|
|
26,986
|
|
25,243
|
|
13,162
|
|
12,894
|
|
51,973
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
revenues
|
|
40,623
|
|
39,072
|
|
19,740
|
|
20,041
|
|
78,155
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Products
|
|
8,188
|
|
8,753
|
|
3,963
|
|
4,477
|
|
16,073
|
|
Services
|
|
11,148
|
|
10,621
|
|
5,438
|
|
5,258
|
|
21,914
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cost of
revenues
|
|
19,336
|
|
19,374
|
|
9,401
|
|
9,735
|
|
37,987
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
21,287
|
|
19,698
|
|
10,339
|
|
10,306
|
|
40,168
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and
development
|
|
2,359
|
|
1,987
|
|
1,122
|
|
1,017
|
|
4,051
|
|
Selling and
marketing
|
|
7,545
|
|
6,761
|
|
3,677
|
|
3,456
|
|
14,038
|
|
General and
administrative
|
|
5,548
|
|
5,634
|
|
2,661
|
|
2,886
|
|
11,275
|
|
Amortization of
intangible assets
|
|
248
|
|
226
|
|
121
|
|
113
|
|
463
|
|
One-time acquisition
related costs
|
|
262
|
|
-
|
|
-
|
|
-
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
15,962
|
|
14,608
|
|
7,581
|
|
7,472
|
|
29,859
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
5,325
|
|
5,090
|
|
2,758
|
|
2,834
|
|
10,309
|
|
Financial expenses,
net
|
|
666
|
|
419
|
|
332
|
|
259
|
|
1,004
|
|
Other
expenses
|
|
15
|
|
-
|
|
-
|
|
-
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before taxes on
income
|
|
4,644
|
|
4,671
|
|
2,426
|
|
2,575
|
|
9,300
|
|
Taxes on
income
|
|
950
|
|
1,138
|
|
501
|
|
609
|
|
(7,221)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
3,694
|
|
3,533
|
|
1,925
|
|
1,966
|
|
16,521
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share from
continuing
operations attributable to Pointer
Telocation Ltd.'s shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
Basic net earnings per
share
|
|
0.46
|
|
0.44
|
|
0.24
|
|
0.24
|
|
2.07
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net earnings
per share
|
|
0.44
|
|
0.44
|
|
0.23
|
|
0.24
|
|
2.03
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average -
Basic number of shares
|
|
8,066,698
|
|
7,942,957
|
|
8,073,665
|
|
7,978,102
|
|
7,997,684
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average –
fully diluted number of shares
|
|
8,257,968
|
|
8,070,953
|
|
8,294,562
|
|
8,111,119
|
|
8,130,566
|
|
INTERIM
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
U.S. dollars in
thousands
|
|
|
|
Six months
ended
June
30,
|
|
Three months
ended
June
30,
|
|
Year
ended
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2017
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
3,694
|
|
3,533
|
|
1,925
|
|
1,966
|
|
16,521
|
|
Adjustments required
to reconcile net income to
net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
1,345
|
|
1,451
|
|
627
|
|
601
|
|
2,924
|
|
Accrued interest and
exchange rate changes of debenture and long-term loans
|
|
25
|
|
-
|
|
24
|
|
-
|
|
52
|
|
Accrued severance pay,
net
|
|
46
|
|
112
|
|
(32)
|
|
54
|
|
93
|
|
Gain from sale of
property and equipment, net
|
|
(49)
|
|
(67)
|
|
(22)
|
|
(49)
|
|
(113)
|
|
Stock-based
compensation
|
|
386
|
|
217
|
|
244
|
|
106
|
|
380
|
|
Decrease (increase) in
trade and unbilled receivables, net
|
|
(788)
|
|
(2,127)
|
|
200
|
|
(1,202)
|
|
(1,616)
|
|
Decrease
(increase) in other accounts receivable and prepaid
expenses
|
|
(1,370)
|
|
(480)
|
|
(749)
|
|
131
|
|
(206)
|
|
Decrease (increase) in
inventories
|
|
751
|
|
(567)
|
|
541
|
|
(418)
|
|
(1,170)
|
|
Decrease (increase) in
deferred income taxes
|
|
341
|
|
822
|
|
186
|
|
452
|
|
(8,018)
|
|
Decrease (increase) in
long-term unbilled and other accounts receivable
|
|
(202)
|
|
52
|
|
(360)
|
|
123
|
|
165
|
|
Increase (decrease) in
trade payables
|
|
247
|
|
(1,211)
|
|
358
|
|
(732)
|
|
(1,597)
|
|
Increase (decrease) in
other accounts payable and accrued expenses
|
|
(382)
|
|
994
|
|
(1,214)
|
|
192
|
|
2,285
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
operating activities
|
|
4,044
|
|
2,729
|
|
1,728
|
|
1,224
|
|
9,700
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property
and equipment
|
|
(1,633)
|
|
(1,112)
|
|
(674)
|
|
(344)
|
|
(3,033)
|
|
Purchase of other
intangible assets
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(233)
|
|
Proceeds from sale of
property and equipment
|
|
49
|
|
55
|
|
22
|
|
37
|
|
114
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
investing activities
|
|
(1,584)
|
|
(1,057)
|
|
(652)
|
|
(307)
|
|
(3,152)
|
|
INTERIM
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
U.S. dollars in
thousands
|
|
|
|
Six months
ended
June
30,
|
|
Three months
ended
June
30,
|
|
Year
ended
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2017
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayment of long-term
loans from banks
|
|
(2,645)
|
|
(2,013)
|
|
(1,294)
|
|
(1,063)
|
|
(4,875)
|
|
Proceeds from issuance
of shares and exercise of options,
net of issuance costs
|
|
80
|
|
276
|
|
76
|
|
197
|
|
395
|
|
Short-term bank
credit, net
|
|
79
|
|
(302)
|
|
21
|
|
(21)
|
|
(231)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
financing activities
|
|
(2,486)
|
|
(2,039)
|
|
(1,197)
|
|
(887)
|
|
(4,711)
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate
on cash and cash equivalents
|
|
(181)
|
|
1
|
|
(477)
|
|
(84)
|
|
(528)
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease in cash and
cash equivalents
|
|
(207)
|
|
(366)
|
|
(598)
|
|
(54)
|
|
1,309
|
|
Cash and cash
equivalents at the beginning of the period
|
|
7,375
|
|
6,066
|
|
7,766
|
|
5,754
|
|
6,066
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
|
7,168
|
|
5,700
|
|
|
7,168
|
|
5,700
|
|
7,375
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADDITIONAL
INFORMATION
|
|
U.S. dollars in
thousands, except share and per share data
|
|
|
The following table
reconciles GAAP to non-GAAP operating results:
|
|
|
|
Six months
ended
June
30,
|
|
Three months
ended
June
30,
|
|
Year
ended
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2017
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
|
21,287
|
|
19,698
|
|
10,339
|
|
10,306
|
|
40,168
|
|
Stock-based
compensation expenses
|
|
33
|
|
2
|
|
24
|
|
1
|
|
3
|
|
Non-GAAP gross
profit
|
|
21,320
|
|
19,700
|
|
10,363
|
|
10,307
|
|
40,171
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating
income
|
|
5,325
|
|
5,090
|
|
2,758
|
|
2,834
|
|
10,309
|
|
Stock-based
compensation expenses
|
|
386
|
|
217
|
|
244
|
|
106
|
|
380
|
|
Amortization and
impairment of long lived assets
|
|
248
|
|
226
|
|
121
|
|
113
|
|
463
|
|
Other expenses of
retirement costs
|
|
-
|
|
125
|
|
-
|
|
-
|
|
125
|
|
Acquisition related
one-time costs
|
|
262
|
|
-
|
|
-
|
|
-
|
|
154
|
|
Non-GAAP operating
income
|
|
6,222
|
|
5,658
|
|
3,123
|
|
3,053
|
|
11,431
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net
income
|
|
3,694
|
|
3,533
|
|
1,925
|
|
1,966
|
|
16,521
|
|
Stock-based
compensation expenses
|
|
386
|
|
217
|
|
244
|
|
106
|
|
380
|
|
Amortization and
impairment of long lived assets
|
|
248
|
|
226
|
|
121
|
|
113
|
|
463
|
|
Other expenses of
retirement costs
|
|
-
|
|
125
|
|
-
|
|
-
|
|
125
|
|
Non cash tax
expenses
|
|
375
|
|
801
|
|
204
|
|
415
|
|
(8,213)
|
|
Acquisition related
one-time costs
|
|
262
|
|
-
|
|
-
|
|
-
|
|
154
|
|
Non-GAAP net
income
|
|
4,965
|
|
4,902
|
|
2,494
|
|
2,600
|
|
9,430
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income
per share from continuing
operations - Diluted
|
|
0.60
|
|
0.61
|
|
0.31
|
|
0.32
|
|
1.16
|
|
Non-GAAP weighted
average number of shares - Diluted*
|
|
8,257,968
|
|
8,070,953
|
|
8,294,562
|
|
8,111,119
|
|
8,130,566
|
* In calculating diluted non-GAAP net income per share, the
diluted weighted average number of shares outstanding excludes the
effects of stock-based compensation expenses in accordance with
FASB ASC 718.
|
EBITDA
|
|
U.S. dollars in
thousands
|
|
|
|
Six months
ended June
30,
|
|
Three months
ended
June
30,
|
|
Year
ended
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2017
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Net income as
reported:
|
|
3,694
|
|
3,533
|
|
1,925
|
|
1,966
|
|
16,521
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial expenses,
net
|
|
666
|
|
419
|
|
332
|
|
259
|
|
1,004
|
|
Tax on
income
|
|
950
|
|
1,138
|
|
501
|
|
609
|
|
(7,221)
|
|
Depreciation,
amortization and impairment of
goodwill and intangible assets
|
|
1,345
|
|
1,451
|
|
627
|
|
601
|
|
2,924
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
6,655
|
|
6,541
|
|
3,385
|
|
3,435
|
|
13,228
|
|
|
|
|
|
|
|
|
|
|
|
Company contact:
Yaniv Dorani, CFO
Tel:
+972-3-5723111
E-mail: yanivd@pointer.com
Investor Relations Contact at Hayden IR, LLC:
Brett
Maas
Tel: +1-646-536-7331
E-mail: brett@haydenir.com
Dave Fore
Tel:
+1-206-395-2711
E-mail: dave@haydenir.com
View original
content:http://www.prnewswire.com/news-releases/pointer-telocation-reports-second-quarter-2018-financial-results-300697435.html
SOURCE Pointer Telocation Ltd
