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STICHWÖRTER: Finanzen / Neuer Markt / adhoc / Börsen



ots Ad hoc-Service: OTI On Track Innovations <IL0009248951> OTI Shows a Revenue Increase of 320%

[28.08.2000 - 08:52 Uhr]


The sender is solely responsible for the contents of this
announcement.
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Rosh-Pina, Israel (ots Ad hoc-Service) -

OTI (WKN 924 895), a pioneer in contacless microprocessor-based
smart card technology, announces today its financial results for the
first six months of the year 2000.
An increase in both revenues and gross profit were noted.

The revenues in the first half of this year grew 320% in
comparison with the same period in 1999, from $ 1.889 million for the
six months ending June 30, 1999 to $ 6.051 million for the six months
ending June 30, 2000.

The gross profit in the first six months grew 335%, in comparison
with the same period in 1999, from $ 1.058 million to $ 3.574
million, for the six months ending June 30, 2000.

Research & Development expenses increased 190%, from $ 0.652
million, for the six months ending June 30, 1999 to $ 1.262 million,
for the six months ending June 30, 2000 - while marketing expenses
rose 360% from $ 0.987 million to $3.588 million in the same period.
The increased expenses in research & development and the growing
costs of Marketing contributed to the net loss.

The net loss in the first six months ending June 30, 2000, grew
210% in comparison with the same period, from $ 1.358 million to $
2.857 million.

For information, visit our website: http://www.oti.co.il

Or contact: Eden Lev, IR&PR manager: Tel: [phone] Fax;
[phone]: e-mail: [e-mail]

End of Message



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