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Earnings Review: December 01, 2008

Tue, 02 Dec 2008 02:54:00 GMT

Late on Monday, Chinese online game firm Shanda Interactive Entertainment Ltd. announced that its third quarter net profit jumped 41.1% to 337.1 mln yuan ($49.4 million) or 4.62 yuan (68 cents) per ADS.[More...]

OTI Reports First Half 2009 Financial Results

Tue, 25 Aug 2009 11:57:00 GMT

On Track Innovations Ltd. , a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced its consolidated financial results for the first half ended June 30, 2009. Following are various financial measures that compare the first half of 2009 to the first half of 2008.[More...]

OTI's Wholly Owned Subsidiary in Poland -- ASEC -- Completes the First Stage of Infrastructure Installations for Warsaw City Card

Mon, 27 Jul 2009 11:56:00 GMT

On Track Innovations Ltd. , a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that its subsidiary, ASEC S.A. in Poland, has completed the first stage of the infrastructure installations for Warsaw's City Card, which is a multi-application system using contactless cards. OTI acts as an e-ticketing and parking operator for Warsaw City Card for the Transport Department of the City of Warsaw.[More...]

Akbank of Turkey Selects OTI Reader Products to Support Its Contactless Payments Program

Mon, 13 Jul 2009 11:56:00 GMT

On Track Innovations Ltd. , a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that Akbank of Turkey, a leader in the growing Turkish Banking Industry, has selected OTI's Saturn 6000 reader for its newly-launched MasterCard PayPass contactless program. The initial orders are for 3,500 readers with follow-on orders expected this year with readers installed at selected locations across the country such as Carrefour 23 stores.[More...]

HSBC Bank A.S. Launches 'Advantage Hizz' Contactless Payments Program Using OTI Product Solutions

Mon, 29 Jun 2009 12:27:00 GMT

On Track Innovations Ltd. , a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that HSBC Bank A.S. which serves the Turkish market and is a member of the HSBC group, selected OTI's contactless payments product suite for HSBC's MasterCard PayPass program named 'Advantage Hizz' . Initial orders for contactless payment devices such as key fobs and smart stickers have already been received.[More...]

New Area of Usage for OTI's EasyFuel, Providing Automated Refueling to One of the World's Largest Container Terminals

Mon, 22 Jun 2009 11:56:00 GMT

On Track Innovations , a global leader in contactless microprocessor-based smart card solutions, today announced that it has received a follow-on order to supply its EasyFuel Fuel Management System to one of the largest container terminal operators in the southern part of China. The new installation, managed together with Armitage Technologies Ltd, the local system integrator for this project, comes after a successful pilot implementation which demonstrated that OTI's EasyFuel solution is relevant across a number of market sectors, including retail and commercial fueling as well as the industrial and mining sectors.[More...]

PARX, OTI's Subsidiary, and Neos Tech Expand "EasyPark" in Italy With the Addition of Three New Municipalities in Northern Italy

Tue, 09 Jun 2009 11:55:00 GMT

On Track Innovations Ltd. today announced that its subsidiary, PARX Ltd., is expanding its parking solution, which includes the EasyPark in-vehicle electronic parking solution in Italy, with the addition of the northern municipalities of Asti, Bra and Rivarolo Canavese. All three municipalities are located in proximity to Turin, one of the largest cities in Italy. EasyPark was introduced by PARX and Neos Tech in Italy in late 2008 under the name Neos Park.[More...]

E-Kent Offers Innovative Payment Solution for Mass Transit Ticketing Using OTI Contactless Payment Products

Tue, 02 Jun 2009 11:55:00 GMT

On Track Innovations Ltd. , a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that it has been selected by E-Kent, a leading AFC company in transportation in Turkey, to provide transportation payment solution, based on OTI's Smart Sticker product and Saturn 6000 contactless reader.[More...]

OTI Reports First Quarter 2009 Financial Results

Wed, 27 May 2009 13:48:00 GMT

Revenues of $9.3 million
Oded Bashan, Chairman and Chief Executive Officer of OTI, said: "Our first quarter results are in line with OTI's strategy to focus on improved margins, reduction in operating expenses, specifically in R&D and G&A, and the continued focus on marketing and sales, all resulting in further decrease in the operating loss and in the level of cash burn.
Following the disclosure made by the company in its 2008 annual results filed with the Securities and Exchange Commission on March 24, 2009, on Form 6-K that the company may recognize an impairment charge against its goodwill and other intangible assets (amounting to $28.1 million), the company recently completed impairment testing as of December 31, 2008, according to which OTI will record a $25.6 million impairment charge, of which $24.2 million and $1.4 million for goodwill and intangible assets, respectively.

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PARX, a Subsidiary of OTI, Signs an Agreement With Agility to Introduce "EasyPark" in Bermuda

Tue, 12 May 2009 12:24:00 GMT

On Track Innovations Ltd, , today announced that its subsidiary, PARX Ltd., has signed an agreement with Agility Ltd. for Agility to become PARX's distributor in Bermuda for the EasyPark product, starting with the city of Hamilton and the LWF Bermuda International Airport. Agility is responsible for operating the program including marketing, sales, help desk, customer support, installation and all local services in Bermuda. Under this agreement Agility will also distribute the EasyPark product throughout the Caribbean.[More...]

PARX, a Subsidiary of OTI, to Exhibit Its Parking Solutions At the 2009 International Parking Conference & Exposition in Denver

Tue, 12 May 2009 09:24:00 GMT

On Track Innovations Ltd. , a global leader in contactless microprocessor-based smart card solutions, today announced that its subsidiary, PARX Ltd., which is responsible for marketing electronic parking solutions in international markets, will exhibit at the 2009 International Parking Conference & Exposition in booth 203, May 17-19, 2009 at the Colorado Convention Center, Denver, Colorado.[More...]