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   Technology StocksOn Track Innovations Ltd. (OTIV)


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From: JakeStraw5/14/2014 8:42:02 AM
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oti Reports 43% Revenue Increase in First Quarter 2014
finance.yahoo.com

"In the first quarter, we made strong progress executing on our strategic plan to focus on our core business of cashless payment solutions," said the company's CEO Ofer Tziperman. "This was demonstrated by the 43% growth in the quarter, driven by our industry-leading technology and expanded salesforce. Strong demand for our NFC readers in the U.S. and European markets led to the milestone of our 600,000 Saturn Reader unit sold to date, which has accelerated over the last 12 months.

"Given the strong start to the year, it appears we've reached an inflection point in terms of our growth and opportunity. We plan to build on this momentum and take advantage of strong industry tailwinds in the cashless payments space.

"Looking ahead, we expect to increase revenue by at least 30% in 2014 and achieve positive adjusted EBITDA on a quarterly basis by the end of Q1 2015, discounting any positive results from our patent monetization activities."

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From: JakeStraw5/29/2014 8:55:16 AM
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oti Opens Albanian Parking Market with PARX’s EasyPark System
finance.yahoo.com

Collaboration with TIS Ltd. Begins with 4,000 Managed Parking Spaces

The agreement includes general and financial management services, parking fees collection, enforcement, an advanced permit system and customer support. At its inception, the contract includes approximately 4,000 managed parking spaces, a number that is expected to increase during the term of the project.

"Our work in Albania is part of our continuing strategy of entering long-term public/private partnership contracts for municipal parking management,” said Ofer Tziperman, CEO of both oti and PARX. “PARX’s unique parking technology, EasyPark™, allows us to provide municipalities with an unequal value proposition in a market which we expect to exhibit spectacular growth in the very near future.”

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From: JakeStraw6/3/2014 8:53:55 AM
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oti Launches Trio Modular Payments Reader
finance.yahoo.com

oti’s Trio, an innovative modular reader for the cashless payment industry, provides multiple payment options in unattended market segments, such as vending machines, self-service laundromats and car washes. The reader works with magnetic stripe cards, contactless payment solutions and secure credit/debit/prepaid cards with built-in EMV smart chip compatibility. The multiple payment solution evolved from oti’s field-proven Saturn 6500, a panel mount reader designed for indoor and outdoor installations.

“Trio gives our clients the flexibility to use any card interface their customers might need to perform payment – including legacy magnetic stripe technology – while also preparing them for emerging payment solutions such as contactless cards, NFC-enabled devices and smart phones and smart EMV cards,” said Ofer Tziperman, oti’s CEO. “Trio offers the breadth and credibility the rapidly expanding cashless payments solutions for the self-service market needs.”

The oti Trio is an innovative, cost effective reader that can be purchased and installed using a modular approach, allowing self-service operators a variety of configuration options:

Magnetic stripe only
Contactless only
Combined magnetic stripe and contactless
EMV contact only
EMV contact and contactless
EMV contact, contactless and magnetic stripe (three-in-one)

For those not purchasing the full solution, adding additional modules is a quick and simple, vandal- and tamper-proof, plug-in hardware retrofit.

Trio Reader Opens New Markets for Company

oti currently works with the largest self-service solutions providers in the United States, Canada and Europe. It already has orders and is implementing the outdoor environment-resistant Trio readers for several large customers in businesses including vending machine operators and self-service car washes.

Each target market for the Trio currently has millions of legacy coin-operated machines that eventually will be upgraded to solutions that allow for cashless payment solutions.

“Our existing and new customers have responded very positively to Trio, both for its flexible payment options, and because it is ‘future proof,’’ Tziperman said. “The ability to purchase the solution in whatever configuration makes most sense for our customers today – based on both needs and budgets – really resonates with companies in self-service industries. It’s important to them that they can easily add on additional modules such as the EMV reader in just minutes per machine, when the time is right.”

By October 1, 2015, all point-of-sale machines that accept cashless payments must be EMV certified in the U.S. This move, known as the Counterfeit Card Liability Shift, essentially provides that parties making investments in EMV deployments by October 2015 are protected from financial liability for card-present counterfeit fraud losses.

Certified Supported Applications for oti’s Trio include:

EMV (Europay, MasterCard, Visa -- including contact EMV levels 1 and 2 and contactless EMV levels 1 and 2)
VISA (including PayWave MSD V2.1.1, VISA PayWave qVSDC V2.1.1, NDOT over VISA for transportation, VISA Global Transit Payment Pilot Specification V1.2, VISA Pilot Visa PayWave Ticketing Extension Specification - Visa Integrated Universal Data Storage V1.3, and VISA Asia Pacific WAVE 2)
MasterCard (including MasterCard PayPass M/Chip V3.0.2 [including Data Exchange module], MasterCard PayPass Mag Stripe V3.3, and NDOT over MasterCard for transportation)
Other Payment Specifications (including AMEX ExpressPay V3.0.1, Discover ZipNetwork V2.13, Interac Flash V1.4 , and ISIS Sizzle/SmartTap)
Mifare (including Mifare Ultralight, Mifare Classic [1K and 4K], and Mifare DESFire)
Transparent (Pass-Through) Communications (including ISO/IEC 14443 Type A - Transparent Proximity, ISO/IEC 14443 Type B - Transparent Proximity, ISO/IEC 15693 Vicinity (Optional) - Transparent Vicinity, and Transparent Mifare)
Other (including Magnetic Stripe Card – ISO/IEC 7811 & 7813, Track 1 + Track 2, as well as additional proprietary applications)

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From: JakeStraw6/5/2014 8:44:24 AM
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oti Lands Five-Year Arlington County Cashless Parking Contract
finance.yahoo.com

EasyPark from oti will help county better manage more than 5,000 parking spaces; allows drivers to skip meters and pay only for the time they are actually parked

“It’s an exciting time for oti as we begin working with Arlington County, augmenting our strong presence abroad with more and more customers in the US. It’s all part of our continuing strategy of entering long-term public/private partnership contracts for municipal parking management,” said Ofer Tziperman, CEO of oti.

Arlington County will begin deploying EasyPark devices early next month. Using EasyPark is simple: The user loads the device with funds through a bank account, and then activates the device and hangs it inside the vehicle while parked. Payment is automatic, and the user is charged only for the actual time spent in the parking space. The system eliminates overpayments to meters, “meter feeding,” and drivers having to walk to a central ticket dispenser and payment device.

EasyPark is already deployed in a variety of other US cities, including Austin, Texas, Manchester, Portsmouth and Dover, New Hampshire, and is in several more pilots across the nation. Since its introduction globally 15 years ago, EasyPark has been deployed in more than 160 municipalities worldwide. oti has sold more than 1,000,000 in-vehicle parking meter devices worldwide since introducing EasyPark.

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From: JakeStraw7/22/2014 9:28:31 AM
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oti Receives $6.2 Million Order for Cashless Payment Readers
finance.yahoo.com

oti will deliver the NFC readers over the next 18-months, with the first shipments beginning immediately. The shipments will include multiple types of oti readers geared specifically for the self-serve market.

"This order represents the second largest Saturn 6500 readers win in our company history, as well as another strong endorsement of our solutions for this important growth market," noted Ofer Tziperman, oti's CEO. "Our highly reliable and secure NFC technology combined with other cashless payment solutions, continues to provide significant competitive advantages where we are able to supplant existing competitive technology as well as create new opportunities for implementing our patented NFC-based systems."

Based on an expanding pipeline of business demonstrated by shipments year-to-date and additional secured orders, the company continues to expect to deliver more than 150,000 oti NFC readers in 2014 or an increase of more than 35% annually.

Gonen Ziv, president of oti America, added: "Our accelerating sales momentum and growing industry adoption of our solutions confirms that the market is at a tipping point in the adoption of cashless payment solutions in the self-serve and unattended market. We believe our cutting-edge solutions, dedicated customer service and aggressive pricing strategy are beginning to pay off. In fact, we expect a number of new strategic customers in North America to start sourcing our cashless payment readers this year."

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From: JakeStraw8/14/2014 9:01:22 AM
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oti Reports 58% Revenue Increase for Second Quarter 2014
finance.yahoo.com

Q2 2014 Operational Highlights

Launched Trio modular payments reader, which handles multiple payment methods in a single solution for the growing self-service markets. Received an initial commercial order from Vianet for oti's new Trio modular payment reader. Vianet plans to initially install the readers in vending machines in Europe starting Q3 2014. oti PetroSmart was awarded a major 15-year contract from a government ministry in Southern Africa to supply its EasyFuel Plus management system. Signed a five-year contract to help manage more than 5,000 on-street parking spaces in Arlington County, Virginia. Signed a 20-year contract to co-manage the parking operations for Elbasan, a city in central Albania. Expanded the capabilities and use of the 84 transit ticket vending machines operated by oti's electronic ticket systems subsidiary, ASEC S.A., for the Mazovia Railway System in Poland.

Q2 2014 Financial Highlights


Revenues in the second quarter of 2014 increased 38% sequentially and 58% from the same year-ago period to $7.2 million. The significant improvement was primarily driven by NFC readers sold to the U.S. market and first deliveries of oti's Wave device to Asia. Gross profit in the second quarter of 2014 increased 26% to $3.3 million (46% of revenue) from $2.6 million (58% of revenue) in the same year-ago period. Total operating expenses in the second quarter of 2014 were $5.3 million compared to $5.0 million in the same year-ago period. The slight increase was primarily due to higher sales and marketing expenses designed to accelerate oti's growth, offset by a 20% decrease in general and administrative expenses. Net loss from continuing operations in the second quarter of 2014 totaled $2.3 million or $(0.07) per share, an improvement from a net loss from continuing operations of $2.6 million or $(0.08) per share in the same period last year. Adjusted EBITDA loss from continuing operations in the second quarter of 2014 totaled $1.0 million, a significant improvement from an adjusted EBITDA loss from continuing operations of $1.8 million in the same year-ago period (see discussion about the presentation of adjusted EBITDA from continuing operations, a non-GAAP term, below). At quarter-end, cash and cash equivalents, and short-term investments totaled $10.6 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."

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From: JakeStraw8/18/2014 8:49:43 AM
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OTI PetroSmart Awarded Multiple Local Government Tenders in South Africa
finance.yahoo.com

OTI PetroSmart will deploy its EasyFuel Plus contactless solution to facilitate automated refueling at various local government "home base" sites in South Africa. Mobile bowsers (fuel trucks) will also be equipped to facilitate the automated refuelling of other fleet items, such as plant equipment. The initial contract is valued at $500,000, which includes hardware and on-going monthly revenues for site monitoring, fuel management reporting, account management, and bureau services.

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From: JakeStraw8/26/2014 8:51:30 AM
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oti America Receives $800K Order for NFC Readers From New Channel Partner for the Self-Service Market
finance.yahoo.com

"This win is our third major new U.S. channel partnership in 2014," said Gonen Ziv, president of oti America. "It also marks our entrance into a new multi-billion dollar self-service market, which is in the early stages in its conversion to cashless payment solutions.

"Our Saturn 6500 NFC readers' family are the ideal solution for all self-service industries. When integrated on different machines it presents patrons with a quick and easy way to pay.

"There is no doubt this new market represents a big opportunity for oti. We are confident our solutions will become the 'de facto standard' cashless payment technology for this multi-billion dollar industry. We expect to build on this momentum over the months and years ahead."

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From: JakeStraw9/10/2014 9:47:19 AM
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oti Offers Unique NFC and Cashless Payment Solutions for Earlier-Generation Apple iPhones
finance.yahoo.com

On Track Innovations Ltd., a global provider of near field communication (NFC) and cashless payment solutions, is piloting its new WAVE and NFC Insert mobile add-on devices with several banks and mobile network operators as the ideal way to add NFC payment capabilities to Apple iPhone 4, 4s, 5, 5s and iPad devices.

Using the oti WAVE solution, card issuers, handset original equipment manufacturers, and mobile operators are able to offer NFC-enabled mobile payment solutions to new and existing iPhone models.

The secure element of oti's WAVE device connects to a Smartphone's operating system via the audio jack, allowing PIN code authentication and secure over-the-air (OTA) provisioning capabilities, including loading of card data, reloading electronic cash, remote personalization, firmware updates, and the ability to add new secure applets.

WAVE runs on a Java-based software over a secure element and provides open application interfaces (API) for third-party development. It supports multi-applications for payment, credit, debit and pre-paid cards, loyalty, healthcare, access control and security, all on the same device. WAVE can also work independently from the iPhone for making quick payments like at mass transit turnstiles. WAVE is currently commercially deployed at various global financial institutions, and is in pilot deployments with mobile operators and mass transit providers.

oti's NFC Insert is another off-the-shelf NFC-enablement solution comprised of a thin film NFC antenna that connects to the iPhone operating system via the SIM card. The antenna folds onto the backside of the iPhone where it is protected by any standard case. Several mobile operators around the world are currently piloting this cleverly unobtrusive NFC add-on.

"With the launch of Apple's iPhone 6, the oti WAVE becomes the leading cost-effective solution for existing iPhone and iPad models that enables secure NFC payment transactions," said oti's CEO, Ofer Tziperman. "Apple's adoption of NFC technology is a strong validation of our long-term vision and investment in NFC technology, as well as that of our partners and business customers."

"We expect Apple's NFC-equipped iPhone 6 and Apple Watch will drive stronger demand for our NFC readers in the unattended and self-service market," continued Tziperman. "We remain ideally positioned in this growing market with the most comprehensive and cost-effective solutions, which are certified by all major payment card associations."

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From: SI Ron (Soup Nazi)9/12/2014 12:38:30 PM
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