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ISIN: IL0010826274 · WKN: 894940
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Profile:Pointer Telocation Limited provides road-side assistance, towing, and stolen vehicle retrieval services to insurance companies and automobile owners in Israel, Argentina, and Mexico. Its road-side assistance services comprise towing services, mobile automobile repair services, vehicle replacement services, and the sale of spare-parts, or connecting the driver to other service providers. The company’s vehicle retrieval and other location-based services include stolen vehicle retrieval services, fleet management, and Web-location. In addition, Pointer Telocation sells its Nexusphere subsystems and products to third party local operators in Russia, Venezuela, China, and Chile. The company markets its stolen vehicle retrieval services primarily through vehicle importers, fleet vehicle operators, leasing companies, and private individuals. Pointer Telocation was co-founded by Hanoch Yokev in 1991. It was formerly known as Nexus Telecommunications Systems, Ltd. and changed its name to Nexus Telocation Systems, Ltd. in 1997. Further, the company changed its name to Pointer Telocation Limited in February 2006. Pointer Telocation is headquartered in Givatayim, Israel.
http://www.pointer.com/
http://www.pointer.com/
Pointer Telocation Announces Record High Revenues for Third Quarter 2006
Wednesday November 22, 5:19 am ET
Revenues From International Operations in Q3 2006 - up 62%
Improved Profitability and EBITDA
GIVATAYIM, Israel, November 22 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq Capital Markets: PNTR), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, reported its financial results for the third quarter of 2006.
Financial Highlights:
Revenues: Pointer's revenues for the third quarter of 2006 increased 7.2% to $11.2 million compared to $10.4 million, in the comparable period in 2005. Revenues for the first nine months of 2006 increased 14.4% to $31.0 million, compared with $27.1 million in the same period of 2005.
Pointer's revenues from its international non-domestic operations increased 62% in Q3 2006 as compared to Q3 2005 and 25.9% in the nine months period ended September 30, 2006 as compared to the same period in 2005. This increase is mainly attributed to the increase in sales to one customer. The increase in total revenues in the first nine months of 2006 as compared to the comparable period in 2005 is also attributable to the fact that revenues in the first nine months of 2005 included only seven months of revenues derived from the acquisition of the road-side assistance and towing business of Shagrir Towing Services completed on February 28, 2005.
Gross Profit: For the third quarter of 2006, gross profit increased 5% to $4.1 million as compared to $3.9 million in Q3 2005. For the first nine months of 2006, gross profit increased by 13.4% to $11.4 million as compared to $10.0 million in the same period in 2005. As a percentage of revenues, gross profit was 36.6% and 36.7%, in Q3 2006 and the first nine months of 2006, respectively, as compared to 37.4% and 37.0% in the comparable periods in 2005.
Operating Income: Pointer's operating income increased 45.7% to $1.4 million in Q3 2006, compared to $932 thousand for the same quarter of 2005. In the first nine months of 2006 Pointer recorded a significant increase in operating income to $4 million, compared to operating income of $182 thousand for the comparable period of 2005. The increase in operating income in the first nine months of 2006 includes a one time net income of $1.3 million associated with an agreement signed with a Latin American customer, offset by a $350 thousand impairment of long-lived assets.
Net Profit: Pointer improved its bottom-line results recording a net profit of $449 thousand or $0.14 per share in the third quarter of 2006, as compared to a net loss of $348 thousand or $(0.14) per share in the third quarter of 2005. For the first nine months of 2006, Pointer recorded a net profit of $1.1 million or $0.39 per share as compared to a net loss of $2.7 million or $(1.18) per share in the comparable period of 2005. During this quarter Pointer continued to consolidate 100% of the net profit of its Israeli subsidiary Shagrir Motor Vehicle Systems, even though its current holding is 56.6%. Pointer's management expects to consolidate Shagrir's results based on actual holdings, from the fourth quarter of 2006.
EBITDA: Pointer's EBITDA increased to $2.4 million in the third quarter of 2006, as compared to $2.3 million in the third quarter of 2005. In the first nine months of 2006 EBITDA increased 81.2% to $7.6 million as compared to $4.2 million in the same period in 2005.
Total Shareholder's Equity increased during the third quarter of 2006 to $15.9 million.
Danny Stern, Pointer's Chief Executive Officer, said: "We are very pleased with the excellent financial results of the third quarter of 2006, notably in the growth in domestic and international revenues, the continuous improvement in profitability and our strong EBITDA and cash flow, all of which reflect the strength of our business model. We are continuing to increase our products and services offering and remain focused on laying the building blocks for continuous growth in 2007."
Conference Call Information:
Pointer's management will host two conference calls with the investment community today, November 22nd, 2006 in Hebrew at 15:30 (GMT +2) and in English at 9:30 EST.
To listen to the conference calls, please dial:
From the US: 1-800-994-4498
From Israel: 03-9180609
A replay of the conference call will be available through November 23rd, 2006 on the Company's website at www.pointer.com.
About Pointer Telocation:
Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Ronen Stein, V.P. and Chief Financial Officer
Tel. +972-3-572-3111
E-mail: ronens@pointer.com
Yael Nevat, Commitment-IR.com
Tel: +972-3-611-4466
E-mail: yael@commitment-IR.com
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
September 30, December 31,
2006 2005
Unaudited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 2,928 $ 1,696
Trade receivables (net of allowance for
doubtful accounts of $ 430 at September 30,
2006 and $ 363 at December 31, 2005) 8,634 6,576
Other accounts receivable and prepaid expenses 786 505
Inventories 1,299 1,389
Total current assets 13,647 10,166
LONG-TERM ASSETS:
Long-term accounts receivable 188 219
Severance pay fund 3,433 2,989
Property and equipment, net 7,306 7,319
Goodwill 39,033 36,924
Other intangible assets, net 8,865 9,597
Total long-term assets 58,825 57,048
Total assets $ 72,472 $ 67,214
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands (except share and per share data)
September 30, December 31,
2006 2005
Unaudited
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Short-term bank credit and current maturities of
long-term loans $ 12,059 $ 9,949
Trade payables 4,885 3,904
Deferred revenues and customer advances 7,592 6,477
Other accounts payable and accrued expenses 3,845 3,835
Total current liabilities 28,381 24,165
LONG-TERM LIABILITIES:
Long-term loans from banks 14,603 16,211
Long-term loans from shareholders and others 9,164 12,082
Accrued severance pay 4,401 3,951
Total long-term liabilities 28,168 32,244
SHAREHOLDERS' EQUITY:
Share capital -
Ordinary shares of NIS 3 par value
Authorized :8,000,000 shares at September 30, 2006
and December 31, 2005; Issued and outstanding:
3,171,234 and 2,479,020 shares at September 30, 2006
and December 31, 2005, respectively 2,105 1,680
Additional paid-in capital 103,285 100,707
Deferred stock-based compensation - (1)
Accumulated other comprehensive loss (159) (1,138)
Accumulated deficit (89,308) (90,443)
Total shareholders' equity 15,923 10,805
Total liabilities and shareholders' equity $ 72,472 $ 67,214
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands (except per share data)
Year
ended
Nine months ended Three months ended December
September 30, September 30, 31,
2006 2005 2006 2005 2005
Unaudited
Revenues:
Products $ 7,167 $ 6,784 $ 3,035 $ 2,337 $ 8,856
Services 23,795 20,284 8,133 8,078 28,108
Total revenues 30,962 27,068 11,168 10,415 36,964
Cost of revenues:
Products 4,114 4,467 1,632 1,391 5,727
Services 15,497 12,592 5,446 5,127 17,587
Total cost of revenues 19,611 17,059 7,078 6,518 23,314
Gross profit 11,351 10,009 4,090 3,897 13,650
Operating expenses:
Research and
development, net 826 669 282 230 892
Selling and marketing 2,753 2,835 964 905 3,693
General and
administrative 3,361 4,341 1,086 1,168 5,644
Amortization of
intangible assets 1,330 1,982 400 662 2,462
Total operating
expenses 8,270 9,827 2,732 2,965 12,691
Other income net (1,292) - - - -
Impairment of long
lived assets 350 - - - -
Operating income 4,023 182 1,358 932 959
Financial expenses,
net 2,234 2,872 653 1,280 4,027
Other income
(expenses), net (15) (19) (10) - 341
Income (loss) before
taxes on income 1,774 (2,709) 695 (348) (2,727)
Taxes on income 639 - 246 - -
Net income (loss) $ 1,135 $(2,709) $ 449 $ (348) $(2,727)
Basic and diluted net
earnings (loss) per
share $ 0.39 $(1.18) $ 0.14 $ (0.14) $ (1.17)
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands (except share data)
Additional Deferred
Number of Share paid-in stock-based
shares capital capital compensation
Balance as of January 1, 2005 1,704,505 $ 1,145 $ 94,127 $ (117)
Issuance of shares and
warrants, net 722,587 500 6,391 -
Deferred stock-based
compensation - - 10 (10)
Amortization of deferred
stock-based compensation - - - 126
Exercise of warrants and stock
options 51,928 35 179 -
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net loss - - - -
Total comprehensive loss
Balance as of December 31, 2005 2,479,020 1,680 100,707 (1)
Deferred stock-based
compensation - - (1) 1
Amortization of deferred
stock-based compensation - - 100 -
Exercise of warrants and
options 692,214 425 2,479 -
Comprehensive income:
Foreign currency translation
adjustments - - - -
Net income - - - -
Total comprehensive income
Balance as of September 30,
2006 (unaudited) 3,171,234 $ 2,105 $ 103,285 $ -
Balance as of January 1, 2005 1,704,505 $ 1,145 $ 94,127 $ (117)
Issuance of shares, warrants
and options, net 722,587 500 6,391 -
Deferred stock-based
compensation - - 10 (10)
Amortization of deferred
stock-based compensation - - - 125
Exercise of warrants 31,818 22 118 -
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net loss - - - -
Total comprehensive loss
Balance as of September 30,
2005 (unaudited) 2,458,910 $ 1,667 $ 100,646 $ (2)
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (continued)
U.S. dollars in thousands (except share data)
Accumulated Total
other comprehensive Total
comprehensive Accumulated income shareholders'
loss deficit (loss) equity
Balance as of
January 1, 2005 $ (353) $ (87,716) $ 7,086
Issuance of shares
and warrants, net - - 6,891
Deferred stock-based
compensation - - -
Amortization of
deferred stock-based
compensation - - 126
Exercise of warrants
and stock options - - 214
Comprehensive loss:
Foreign currency
translation
adjustments (785) - $ (785) (785)
Net loss - (2,727) (2,727) (2,727)
Total comprehensive
loss $ (3,512)
Balance as of
December 31, 2005 (1,138) (90,443) 10,805
Deferred stock-based
compensation - - -
Amortization of
deferred stock-based
compensation - - 100
Exercise of warrants
and options - - 2,904
Comprehensive
income:
Foreign currency
translation
adjustments 979 - $ 979 979
Net income - 1,135 1,135 1,135
Total comprehensive
income $ 2,114
Balance as of
September 30, 2006
(unaudited) $ (159) $ (89,308) $ 15,923
Balance as of
January 1, 2005 $ (353) $ (87,716) $ 7,086
Issuance of shares,
warrants and
options, net - - 6,891
Deferred stock-based
compensation - - -
Amortization of
deferred stock-based
compensation - - 125
Exercise of warrants - - 140
Comprehensive loss:
Foreign currency
translation
adjustments (927) - $ (927) (927)
Net loss - (2,709) (2,709) (2,709)
Total comprehensive
loss $ (3,636)
Balance as of
September 30, 2005
(unaudited) $ (1,280) $ (90,425) $ 10,606
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands (except share data)
Additional Deferred
Number of Share paid-in stock-based
shares capital capital compensation
Balance as of July 1, 2006
(unaudited) 3,095,124 $ 2,076 $ 103,091 $ -
Amortization of deferred
stock-based compensation - - 31 -
Exercise of warrants 76,110 29 163 -
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net income - - - -
Total comprehensive income
Balance as of September 30,
2006 (unaudited) 3,171,234 $ 2,105 $ 103,285 $ -
Balance as of July 1, 2005
(unaudited) 2,458,910 $ 1,667 $ 100,646 $ (13)
Amortization of deferred
stock-based compensation - - - 11
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net loss - - - -
Total comprehensive loss
Balance as of September 30,
2005 (unaudited) 2,458,910 $ 1,667 $ 100,646 $ (2)
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (continued)
U.S. dollars in thousands (except share data)
Accumulated
other Total Total
comprehensive Accumulated comprehensive shareholders'
loss deficit income (loss) equity
Balance as of July
1, 2006 (unaudited) $ (635) $ (89,757) $ 14,775
Amortization of
deferred stock-based
compensation - - 31
Exercise of warrants - - 192
Comprehensive loss:
Foreign currency
translation
adjustments 476 - $ 476 476
Net income - 449 449 449
Total comprehensive
income $ 925
Balance as of
September 30, 2006
(unaudited) $ (159) $ (89,308) $ 15,923
Balance as of July
1, 2005 (unaudited) $ (1,223) $ (90,077) $ 11,000
Amortization of
deferred stock-based
compensation - - 11
Comprehensive loss:
Foreign currency
translation
adjustments (57) - $ (57) (57)
Net loss - (348) (348) (348)
Total comprehensive
loss $ (405)
Balance as of
September 30, 2005
(unaudited) $ (1,280) $ (90,425) $ 10,606
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
Year
ended
Nine months ended Three months ended December
September 30, September 30, 31,
2006 2005 2006 2005 2005
Unaudited
Cash flows from
operating
activities:
Net income (loss) $ 1,135 $ (2,709) $ 449 $ (348) $ (2,727)
Adjustments to
reconcile net
income (loss) to
net cash provided
by operating
activities:
Depreciation and
amortization 3,498 3,869 1,147 1,307 4,997
Accrued interest
and exchange rate
changes of
convertible
debenture and
long-term loans 451 1,629 69 925 1,961
Accrued severance
pay, net (46) 425 (23) (175) 484
Loss (gain) from
sale of property
and equipment, net (39) (180) (113) (65) (299)
Gain from
realization of
investment in
subsidiary, net - - - - (359)
Amortization of
deferred
stock-based
compensation 100 125 31 11 126
Decrease (increase)
in trade
receivables, net (1,589) 1,721 (980) (10) 2,581
Decrease (increase)
in other accounts
receivable and
prepaid expenses (203) 1,954 (51) (7) 2,301
Decrease (increase)
in inventories 200 (33) 145 (119) (144)
Write-off of
inventories 69 - - - 199
Decrease (increase)
in other long-term
accounts receivable 48 (30) (3) 5 (20)
Increase in trade
payables 683 329 398 213 (359)
Decrease in other
accounts payable
and accrued
expenses 491 (2,145) (512) (564) (2,962)
Net cash provided
by operating
activities 4,798 4,955 557 1,173 5,779
Cash flows from
investing
activities:
Purchase of
property and
equipment (2,118) (1,354) (1,244) (214) (2,020)
Proceeds from
short-term bank
deposits - 15 - - 15
Proceeds from sale
of property and
equipment 779 316 353 123 519
Proceeds from
realization of
investment in
subsidiary - - - - 6,241
Acquisition of
activities and
assets of Shagrir
Towing Services
Ltd. And Shagrir
(1985) Ltd. (a) - (43,847) - (90) (43,847)
Net cash used in
investing
activities (1,339) (44,870) (891) (181) (39,092)
Cash flows from
financing
activities:
Receipt of
long-term loans
from banks - 16,066 - - 16,066
Repayment of
long-term loans
from banks (1,628) (1,079) (401) (810) (2,035)
Receipt of
long-term loans
from shareholders
and others 131 21,093 - 158 21,136
Repayment of
long-term loans
from others (3,447) - (450) - (6,241)
Proceeds from
issuance of shares
and exercise of
options and
warrants, net 2,904 6,105 192 - 6,176
Short-term bank
credit, net (174) (481) 418 (440) (401)
Net cash provided
by (used in)
financing
activities (2,214) 41,704 (241) (1,092) 34,701
Effect of exchange
rate on cash and
cash equivalents (13) 124 17 45 233
Increase (decrease)
in cash and cash
equivalents 1,232 1,913 (558) (55) 1,621
Cash and cash
equivalents at
beginning of period 1,696 75 3,486 2,043 75
Cash and cash
equivalents at end
of period $ 2,928 $ 1,988 $ 2,928 $ 1,988 $ 1,696
Supplemental
disclosure of cash
flow transaction:
Cash paid during
the period for
interest $ 1,695 $ 1,057 $ 243 $ 393 $ 1,200
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
Nine months Three months Year
ended ended ended
December
September 30, September 30, 31,
2006 2005 2006 2005 2005
Unaudited
(a) Acquisition of
activities and assets
of Shagrir Towing
Services Ltd. and
Shagrir (1985) Ltd.:
Fair value of assets
acquired and liabilities
assumed at date of
acquisition:
Working capital $ - $ 4,568 $ - $ (90) $ 4,568
Property and -
equipment - (5,760) - (5,760)
Customer list - (8,558) - - (8,558)
Brand name - (1,920) - - (1,920)
Goodwill - (31,652) - - (31,652)
Long-term loan - (1,175) - - (1,175)
Accrued severance -
pay, net - 6 - 6
- (44,491) - (90) (44,491)
Fair value of shares,
options and warrants
issued - 644 - - 644
$ - $(43,847) $ - $(90) $(43,847)
--------------------------------------------------------------------------------
Source: Pointer Telocation Ltd
Wednesday November 22, 5:19 am ET
Revenues From International Operations in Q3 2006 - up 62%
Improved Profitability and EBITDA
GIVATAYIM, Israel, November 22 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq Capital Markets: PNTR), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, reported its financial results for the third quarter of 2006.
Financial Highlights:
Revenues: Pointer's revenues for the third quarter of 2006 increased 7.2% to $11.2 million compared to $10.4 million, in the comparable period in 2005. Revenues for the first nine months of 2006 increased 14.4% to $31.0 million, compared with $27.1 million in the same period of 2005.
Pointer's revenues from its international non-domestic operations increased 62% in Q3 2006 as compared to Q3 2005 and 25.9% in the nine months period ended September 30, 2006 as compared to the same period in 2005. This increase is mainly attributed to the increase in sales to one customer. The increase in total revenues in the first nine months of 2006 as compared to the comparable period in 2005 is also attributable to the fact that revenues in the first nine months of 2005 included only seven months of revenues derived from the acquisition of the road-side assistance and towing business of Shagrir Towing Services completed on February 28, 2005.
Gross Profit: For the third quarter of 2006, gross profit increased 5% to $4.1 million as compared to $3.9 million in Q3 2005. For the first nine months of 2006, gross profit increased by 13.4% to $11.4 million as compared to $10.0 million in the same period in 2005. As a percentage of revenues, gross profit was 36.6% and 36.7%, in Q3 2006 and the first nine months of 2006, respectively, as compared to 37.4% and 37.0% in the comparable periods in 2005.
Operating Income: Pointer's operating income increased 45.7% to $1.4 million in Q3 2006, compared to $932 thousand for the same quarter of 2005. In the first nine months of 2006 Pointer recorded a significant increase in operating income to $4 million, compared to operating income of $182 thousand for the comparable period of 2005. The increase in operating income in the first nine months of 2006 includes a one time net income of $1.3 million associated with an agreement signed with a Latin American customer, offset by a $350 thousand impairment of long-lived assets.
Net Profit: Pointer improved its bottom-line results recording a net profit of $449 thousand or $0.14 per share in the third quarter of 2006, as compared to a net loss of $348 thousand or $(0.14) per share in the third quarter of 2005. For the first nine months of 2006, Pointer recorded a net profit of $1.1 million or $0.39 per share as compared to a net loss of $2.7 million or $(1.18) per share in the comparable period of 2005. During this quarter Pointer continued to consolidate 100% of the net profit of its Israeli subsidiary Shagrir Motor Vehicle Systems, even though its current holding is 56.6%. Pointer's management expects to consolidate Shagrir's results based on actual holdings, from the fourth quarter of 2006.
EBITDA: Pointer's EBITDA increased to $2.4 million in the third quarter of 2006, as compared to $2.3 million in the third quarter of 2005. In the first nine months of 2006 EBITDA increased 81.2% to $7.6 million as compared to $4.2 million in the same period in 2005.
Total Shareholder's Equity increased during the third quarter of 2006 to $15.9 million.
Danny Stern, Pointer's Chief Executive Officer, said: "We are very pleased with the excellent financial results of the third quarter of 2006, notably in the growth in domestic and international revenues, the continuous improvement in profitability and our strong EBITDA and cash flow, all of which reflect the strength of our business model. We are continuing to increase our products and services offering and remain focused on laying the building blocks for continuous growth in 2007."
Conference Call Information:
Pointer's management will host two conference calls with the investment community today, November 22nd, 2006 in Hebrew at 15:30 (GMT +2) and in English at 9:30 EST.
To listen to the conference calls, please dial:
From the US: 1-800-994-4498
From Israel: 03-9180609
A replay of the conference call will be available through November 23rd, 2006 on the Company's website at www.pointer.com.
About Pointer Telocation:
Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Ronen Stein, V.P. and Chief Financial Officer
Tel. +972-3-572-3111
E-mail: ronens@pointer.com
Yael Nevat, Commitment-IR.com
Tel: +972-3-611-4466
E-mail: yael@commitment-IR.com
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
September 30, December 31,
2006 2005
Unaudited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 2,928 $ 1,696
Trade receivables (net of allowance for
doubtful accounts of $ 430 at September 30,
2006 and $ 363 at December 31, 2005) 8,634 6,576
Other accounts receivable and prepaid expenses 786 505
Inventories 1,299 1,389
Total current assets 13,647 10,166
LONG-TERM ASSETS:
Long-term accounts receivable 188 219
Severance pay fund 3,433 2,989
Property and equipment, net 7,306 7,319
Goodwill 39,033 36,924
Other intangible assets, net 8,865 9,597
Total long-term assets 58,825 57,048
Total assets $ 72,472 $ 67,214
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands (except share and per share data)
September 30, December 31,
2006 2005
Unaudited
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Short-term bank credit and current maturities of
long-term loans $ 12,059 $ 9,949
Trade payables 4,885 3,904
Deferred revenues and customer advances 7,592 6,477
Other accounts payable and accrued expenses 3,845 3,835
Total current liabilities 28,381 24,165
LONG-TERM LIABILITIES:
Long-term loans from banks 14,603 16,211
Long-term loans from shareholders and others 9,164 12,082
Accrued severance pay 4,401 3,951
Total long-term liabilities 28,168 32,244
SHAREHOLDERS' EQUITY:
Share capital -
Ordinary shares of NIS 3 par value
Authorized :8,000,000 shares at September 30, 2006
and December 31, 2005; Issued and outstanding:
3,171,234 and 2,479,020 shares at September 30, 2006
and December 31, 2005, respectively 2,105 1,680
Additional paid-in capital 103,285 100,707
Deferred stock-based compensation - (1)
Accumulated other comprehensive loss (159) (1,138)
Accumulated deficit (89,308) (90,443)
Total shareholders' equity 15,923 10,805
Total liabilities and shareholders' equity $ 72,472 $ 67,214
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
U.S. dollars in thousands (except per share data)
Year
ended
Nine months ended Three months ended December
September 30, September 30, 31,
2006 2005 2006 2005 2005
Unaudited
Revenues:
Products $ 7,167 $ 6,784 $ 3,035 $ 2,337 $ 8,856
Services 23,795 20,284 8,133 8,078 28,108
Total revenues 30,962 27,068 11,168 10,415 36,964
Cost of revenues:
Products 4,114 4,467 1,632 1,391 5,727
Services 15,497 12,592 5,446 5,127 17,587
Total cost of revenues 19,611 17,059 7,078 6,518 23,314
Gross profit 11,351 10,009 4,090 3,897 13,650
Operating expenses:
Research and
development, net 826 669 282 230 892
Selling and marketing 2,753 2,835 964 905 3,693
General and
administrative 3,361 4,341 1,086 1,168 5,644
Amortization of
intangible assets 1,330 1,982 400 662 2,462
Total operating
expenses 8,270 9,827 2,732 2,965 12,691
Other income net (1,292) - - - -
Impairment of long
lived assets 350 - - - -
Operating income 4,023 182 1,358 932 959
Financial expenses,
net 2,234 2,872 653 1,280 4,027
Other income
(expenses), net (15) (19) (10) - 341
Income (loss) before
taxes on income 1,774 (2,709) 695 (348) (2,727)
Taxes on income 639 - 246 - -
Net income (loss) $ 1,135 $(2,709) $ 449 $ (348) $(2,727)
Basic and diluted net
earnings (loss) per
share $ 0.39 $(1.18) $ 0.14 $ (0.14) $ (1.17)
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands (except share data)
Additional Deferred
Number of Share paid-in stock-based
shares capital capital compensation
Balance as of January 1, 2005 1,704,505 $ 1,145 $ 94,127 $ (117)
Issuance of shares and
warrants, net 722,587 500 6,391 -
Deferred stock-based
compensation - - 10 (10)
Amortization of deferred
stock-based compensation - - - 126
Exercise of warrants and stock
options 51,928 35 179 -
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net loss - - - -
Total comprehensive loss
Balance as of December 31, 2005 2,479,020 1,680 100,707 (1)
Deferred stock-based
compensation - - (1) 1
Amortization of deferred
stock-based compensation - - 100 -
Exercise of warrants and
options 692,214 425 2,479 -
Comprehensive income:
Foreign currency translation
adjustments - - - -
Net income - - - -
Total comprehensive income
Balance as of September 30,
2006 (unaudited) 3,171,234 $ 2,105 $ 103,285 $ -
Balance as of January 1, 2005 1,704,505 $ 1,145 $ 94,127 $ (117)
Issuance of shares, warrants
and options, net 722,587 500 6,391 -
Deferred stock-based
compensation - - 10 (10)
Amortization of deferred
stock-based compensation - - - 125
Exercise of warrants 31,818 22 118 -
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net loss - - - -
Total comprehensive loss
Balance as of September 30,
2005 (unaudited) 2,458,910 $ 1,667 $ 100,646 $ (2)
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (continued)
U.S. dollars in thousands (except share data)
Accumulated Total
other comprehensive Total
comprehensive Accumulated income shareholders'
loss deficit (loss) equity
Balance as of
January 1, 2005 $ (353) $ (87,716) $ 7,086
Issuance of shares
and warrants, net - - 6,891
Deferred stock-based
compensation - - -
Amortization of
deferred stock-based
compensation - - 126
Exercise of warrants
and stock options - - 214
Comprehensive loss:
Foreign currency
translation
adjustments (785) - $ (785) (785)
Net loss - (2,727) (2,727) (2,727)
Total comprehensive
loss $ (3,512)
Balance as of
December 31, 2005 (1,138) (90,443) 10,805
Deferred stock-based
compensation - - -
Amortization of
deferred stock-based
compensation - - 100
Exercise of warrants
and options - - 2,904
Comprehensive
income:
Foreign currency
translation
adjustments 979 - $ 979 979
Net income - 1,135 1,135 1,135
Total comprehensive
income $ 2,114
Balance as of
September 30, 2006
(unaudited) $ (159) $ (89,308) $ 15,923
Balance as of
January 1, 2005 $ (353) $ (87,716) $ 7,086
Issuance of shares,
warrants and
options, net - - 6,891
Deferred stock-based
compensation - - -
Amortization of
deferred stock-based
compensation - - 125
Exercise of warrants - - 140
Comprehensive loss:
Foreign currency
translation
adjustments (927) - $ (927) (927)
Net loss - (2,709) (2,709) (2,709)
Total comprehensive
loss $ (3,636)
Balance as of
September 30, 2005
(unaudited) $ (1,280) $ (90,425) $ 10,606
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
U.S. dollars in thousands (except share data)
Additional Deferred
Number of Share paid-in stock-based
shares capital capital compensation
Balance as of July 1, 2006
(unaudited) 3,095,124 $ 2,076 $ 103,091 $ -
Amortization of deferred
stock-based compensation - - 31 -
Exercise of warrants 76,110 29 163 -
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net income - - - -
Total comprehensive income
Balance as of September 30,
2006 (unaudited) 3,171,234 $ 2,105 $ 103,285 $ -
Balance as of July 1, 2005
(unaudited) 2,458,910 $ 1,667 $ 100,646 $ (13)
Amortization of deferred
stock-based compensation - - - 11
Comprehensive loss:
Foreign currency translation
adjustments - - - -
Net loss - - - -
Total comprehensive loss
Balance as of September 30,
2005 (unaudited) 2,458,910 $ 1,667 $ 100,646 $ (2)
CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (continued)
U.S. dollars in thousands (except share data)
Accumulated
other Total Total
comprehensive Accumulated comprehensive shareholders'
loss deficit income (loss) equity
Balance as of July
1, 2006 (unaudited) $ (635) $ (89,757) $ 14,775
Amortization of
deferred stock-based
compensation - - 31
Exercise of warrants - - 192
Comprehensive loss:
Foreign currency
translation
adjustments 476 - $ 476 476
Net income - 449 449 449
Total comprehensive
income $ 925
Balance as of
September 30, 2006
(unaudited) $ (159) $ (89,308) $ 15,923
Balance as of July
1, 2005 (unaudited) $ (1,223) $ (90,077) $ 11,000
Amortization of
deferred stock-based
compensation - - 11
Comprehensive loss:
Foreign currency
translation
adjustments (57) - $ (57) (57)
Net loss - (348) (348) (348)
Total comprehensive
loss $ (405)
Balance as of
September 30, 2005
(unaudited) $ (1,280) $ (90,425) $ 10,606
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
Year
ended
Nine months ended Three months ended December
September 30, September 30, 31,
2006 2005 2006 2005 2005
Unaudited
Cash flows from
operating
activities:
Net income (loss) $ 1,135 $ (2,709) $ 449 $ (348) $ (2,727)
Adjustments to
reconcile net
income (loss) to
net cash provided
by operating
activities:
Depreciation and
amortization 3,498 3,869 1,147 1,307 4,997
Accrued interest
and exchange rate
changes of
convertible
debenture and
long-term loans 451 1,629 69 925 1,961
Accrued severance
pay, net (46) 425 (23) (175) 484
Loss (gain) from
sale of property
and equipment, net (39) (180) (113) (65) (299)
Gain from
realization of
investment in
subsidiary, net - - - - (359)
Amortization of
deferred
stock-based
compensation 100 125 31 11 126
Decrease (increase)
in trade
receivables, net (1,589) 1,721 (980) (10) 2,581
Decrease (increase)
in other accounts
receivable and
prepaid expenses (203) 1,954 (51) (7) 2,301
Decrease (increase)
in inventories 200 (33) 145 (119) (144)
Write-off of
inventories 69 - - - 199
Decrease (increase)
in other long-term
accounts receivable 48 (30) (3) 5 (20)
Increase in trade
payables 683 329 398 213 (359)
Decrease in other
accounts payable
and accrued
expenses 491 (2,145) (512) (564) (2,962)
Net cash provided
by operating
activities 4,798 4,955 557 1,173 5,779
Cash flows from
investing
activities:
Purchase of
property and
equipment (2,118) (1,354) (1,244) (214) (2,020)
Proceeds from
short-term bank
deposits - 15 - - 15
Proceeds from sale
of property and
equipment 779 316 353 123 519
Proceeds from
realization of
investment in
subsidiary - - - - 6,241
Acquisition of
activities and
assets of Shagrir
Towing Services
Ltd. And Shagrir
(1985) Ltd. (a) - (43,847) - (90) (43,847)
Net cash used in
investing
activities (1,339) (44,870) (891) (181) (39,092)
Cash flows from
financing
activities:
Receipt of
long-term loans
from banks - 16,066 - - 16,066
Repayment of
long-term loans
from banks (1,628) (1,079) (401) (810) (2,035)
Receipt of
long-term loans
from shareholders
and others 131 21,093 - 158 21,136
Repayment of
long-term loans
from others (3,447) - (450) - (6,241)
Proceeds from
issuance of shares
and exercise of
options and
warrants, net 2,904 6,105 192 - 6,176
Short-term bank
credit, net (174) (481) 418 (440) (401)
Net cash provided
by (used in)
financing
activities (2,214) 41,704 (241) (1,092) 34,701
Effect of exchange
rate on cash and
cash equivalents (13) 124 17 45 233
Increase (decrease)
in cash and cash
equivalents 1,232 1,913 (558) (55) 1,621
Cash and cash
equivalents at
beginning of period 1,696 75 3,486 2,043 75
Cash and cash
equivalents at end
of period $ 2,928 $ 1,988 $ 2,928 $ 1,988 $ 1,696
Supplemental
disclosure of cash
flow transaction:
Cash paid during
the period for
interest $ 1,695 $ 1,057 $ 243 $ 393 $ 1,200
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
Nine months Three months Year
ended ended ended
December
September 30, September 30, 31,
2006 2005 2006 2005 2005
Unaudited
(a) Acquisition of
activities and assets
of Shagrir Towing
Services Ltd. and
Shagrir (1985) Ltd.:
Fair value of assets
acquired and liabilities
assumed at date of
acquisition:
Working capital $ - $ 4,568 $ - $ (90) $ 4,568
Property and -
equipment - (5,760) - (5,760)
Customer list - (8,558) - - (8,558)
Brand name - (1,920) - - (1,920)
Goodwill - (31,652) - - (31,652)
Long-term loan - (1,175) - - (1,175)
Accrued severance -
pay, net - 6 - 6
- (44,491) - (90) (44,491)
Fair value of shares,
options and warrants
issued - 644 - - 644
$ - $(43,847) $ - $(90) $(43,847)
--------------------------------------------------------------------------------
Source: Pointer Telocation Ltd
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@ panik
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würde mir auch mal wünschen eine aktie zu kaufen, und morgen dann gleich + 93%
ich glaube aber, das werde ich nicht mehr erleben
+ 93%!!!!!!!!!!!!!!!!!!!!
@ panik
herzlichen glückwunsch falls du dabei bist.
150% in zwei handelstagen seit deinem ersten posting!
nicht schlecht kann man da nur sagen
würde mir auch mal wünschen eine aktie zu kaufen, und morgen dann gleich + 93%
ich glaube aber, das werde ich nicht mehr erleben
Antwort auf Beitrag Nr.: 25.670.935 von DeltaComet am 24.11.06 18:58:37Press Release Source: Pointer Telocation Ltd
Pointer Telocation Announces Record High Revenues for 2006: Increase of 13.4% to $41.9 million Y/Y
Tuesday March 6, 6:51 am ET
- Operating Income of $4.9 million, compared to $1 million in 2005
- Revenues from international operations in 2006 - up 21%
- First net annual income from Continuing Operations of $1.2 million
Givatayim, Israel, March 6 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq Capital Markets: PNTR), a leading provider of services to the insurance and automotive industries including road-side assistance, fleet management and stolen vehicle retrieval services in Israel, Argentina and Mexico, reported its financial results for 2006.
ADVERTISEMENT
In 2006 Pointer Telocation continued to reinforce its business and financial position, recording an increase in annual growth of 13.4% resulting from an improvement in both its domestic and international revenues. Pointer furthermore broadened its service offerings with the launch of its cellular based services. Net income was negatively affected by the recording of a minority interest for the first time.
Volltext: http://biz.yahoo.com/prnews/070306/lntu510.html?.v=1
Super
Pointer Telocation Announces Record High Revenues for 2006: Increase of 13.4% to $41.9 million Y/Y
Tuesday March 6, 6:51 am ET
- Operating Income of $4.9 million, compared to $1 million in 2005
- Revenues from international operations in 2006 - up 21%
- First net annual income from Continuing Operations of $1.2 million
Givatayim, Israel, March 6 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq Capital Markets: PNTR), a leading provider of services to the insurance and automotive industries including road-side assistance, fleet management and stolen vehicle retrieval services in Israel, Argentina and Mexico, reported its financial results for 2006.
ADVERTISEMENT
In 2006 Pointer Telocation continued to reinforce its business and financial position, recording an increase in annual growth of 13.4% resulting from an improvement in both its domestic and international revenues. Pointer furthermore broadened its service offerings with the launch of its cellular based services. Net income was negatively affected by the recording of a minority interest for the first time.
Volltext: http://biz.yahoo.com/prnews/070306/lntu510.html?.v=1
Super
Antwort auf Beitrag Nr.: 25.592.721 von panik am 22.11.06 15:57:53
ress Release Source: Pointer Telocation Ltd
Pointer Telocation Expands its Global Presence: Announces Signature of Non-Binding Letter of Intent for Acquisition of the Controlling Interest in the Business of the Leading Provider of Road Side Assistance in Argentina, in Consideration for $9 million
Monday March 12, 2:54 am ET
GIVATAYIM, Israel, March 12 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq: PNTR - News), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, announced today its signed a non-binding Letter of Intent to acquire controlling ownership of the leading provider of Road Side Assistance & Towing services in Argentina in consideration for $9 million.
ADVERTISEMENT
Closing of the transaction is expected during 2008 and is pending execution of a definitive agreement by the parties and agreement on the due diligence process to be conducted.
The Argentinean road side assistance company serves approximately 1,800,000 subscribers through its contacts with leading insurance companies and automotive manufacturers in Argentina. Based on the level of its current operations, the Argentinean company's business generates annualized revenues of approximately $18 million.
Danny Stern, Pointer's CEO commented "We expect that the closing of this acquisition will allow Pointer to implement its growth strategy, increase subscriber numbers and broaden our line of services in Argentina. This is the first major action in implementing Pointer's strategic plan of increasing our global presence throughout M&As. We expect to achieve synergetic advantages from the broader service offering in Argentina, the relationship with more insurance companies as well as automotive manufacturers, that are expected to lead to improvement of our market positioning, growth and profitability".
About Pointer Telocation: Pointer Telocation Ltd
www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Contact:
Zvi Fried, V.P. and Chief Financial Officer
Tel.; +972-3-572 3111
E-mail: zvif@pointer.com
Yael Nevat, Commitment-IR.com
Tel: +972-3-611 4466, +972-50-762 6215
E-mail: yael@commitment-IR.com
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Pointer Telocation Expands its Global Presence: Announces Signature of Non-Binding Letter of Intent for Acquisition of the Controlling Interest in the Business of the Leading Provider of Road Side Assistance in Argentina, in Consideration for $9 million
Monday March 12, 2:54 am ET
GIVATAYIM, Israel, March 12 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq: PNTR - News), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, announced today its signed a non-binding Letter of Intent to acquire controlling ownership of the leading provider of Road Side Assistance & Towing services in Argentina in consideration for $9 million.
ADVERTISEMENT
Closing of the transaction is expected during 2008 and is pending execution of a definitive agreement by the parties and agreement on the due diligence process to be conducted.
The Argentinean road side assistance company serves approximately 1,800,000 subscribers through its contacts with leading insurance companies and automotive manufacturers in Argentina. Based on the level of its current operations, the Argentinean company's business generates annualized revenues of approximately $18 million.
Danny Stern, Pointer's CEO commented "We expect that the closing of this acquisition will allow Pointer to implement its growth strategy, increase subscriber numbers and broaden our line of services in Argentina. This is the first major action in implementing Pointer's strategic plan of increasing our global presence throughout M&As. We expect to achieve synergetic advantages from the broader service offering in Argentina, the relationship with more insurance companies as well as automotive manufacturers, that are expected to lead to improvement of our market positioning, growth and profitability".
About Pointer Telocation: Pointer Telocation Ltd
www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Contact:
Zvi Fried, V.P. and Chief Financial Officer
Tel.; +972-3-572 3111
E-mail: zvif@pointer.com
Yael Nevat, Commitment-IR.com
Tel: +972-3-611 4466, +972-50-762 6215
E-mail: yael@commitment-IR.com
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Antwort auf Beitrag Nr.: 28.251.828 von GoofMan am 12.03.07 12:05:10Und News Nr 2 von heute:
Pointer Telocation Announces the Execution of a Binding Memorandum of Understanding (MOU) With the Leading Provider of Road Side Assistance in Argentina to Cooperate in Offering Location Based and Stolen Vehicle Retrieval Services
Monday March 12, 2:41 am ET
GIVATAYIM, Israel, March 12 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq PNTR), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, announced today its signing of a binding MOU with the leading provider of Road Side Assistance & Towing services in Argentina (the "Argentinean Partner") to cooperate in offering location based services and stolen vehicle retrieval (SVR) services.
ADVERTISEMENT
The closing of the transaction is subject to the Argentinean Partner's success in reaching an agreement with a leading automotive manufacturer in Argentina to provide location based services and SVR services (the "New Project").
Based on the MOU, upon closing the Argentinean Partner shall transfer to Pointer Localizacion y Asistencia S.A, Pointer's subsidiary in Argentina ("Pointer Argentina") all of its location based services and SVR business in consideration for 11% of the outstanding share capital of Pointer Argentina. Thereafter, based on the success of the New Project during thetwo years following the closing, the Argentinean Partner may increase its holdings in Pointer Argentina. Pointer Telocation undertook to provide certain financing to Pointer Argentina during these two years.
Danny Stern, CEO of Pointer Telocation commented: "The cooperation with our new partner has already provided us important contacts with Argentinean insurance companies that we expect to materialize during 2007. We believe that the contemplated new project shall be an important milestone, to achieve additional material growth in Argentina, as well as provide us with the platform and opportunity to launch services to the automotive industry."
About Pointer Telocation: Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Zvi Fried Yael Nevat
V.P. and Chief Financial Officer Commitment-IR.com
Tel.: +972-3-572-3111 Tel: +972-3-611-4466
+972-50-762-6215
E-mail: zvif@pointer.com E-mail: yael@commitment-IR.com
Pointer Telocation Announces the Execution of a Binding Memorandum of Understanding (MOU) With the Leading Provider of Road Side Assistance in Argentina to Cooperate in Offering Location Based and Stolen Vehicle Retrieval Services
Monday March 12, 2:41 am ET
GIVATAYIM, Israel, March 12 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq PNTR), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, announced today its signing of a binding MOU with the leading provider of Road Side Assistance & Towing services in Argentina (the "Argentinean Partner") to cooperate in offering location based services and stolen vehicle retrieval (SVR) services.
ADVERTISEMENT
The closing of the transaction is subject to the Argentinean Partner's success in reaching an agreement with a leading automotive manufacturer in Argentina to provide location based services and SVR services (the "New Project").
Based on the MOU, upon closing the Argentinean Partner shall transfer to Pointer Localizacion y Asistencia S.A, Pointer's subsidiary in Argentina ("Pointer Argentina") all of its location based services and SVR business in consideration for 11% of the outstanding share capital of Pointer Argentina. Thereafter, based on the success of the New Project during thetwo years following the closing, the Argentinean Partner may increase its holdings in Pointer Argentina. Pointer Telocation undertook to provide certain financing to Pointer Argentina during these two years.
Danny Stern, CEO of Pointer Telocation commented: "The cooperation with our new partner has already provided us important contacts with Argentinean insurance companies that we expect to materialize during 2007. We believe that the contemplated new project shall be an important milestone, to achieve additional material growth in Argentina, as well as provide us with the platform and opportunity to launch services to the automotive industry."
About Pointer Telocation: Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Zvi Fried Yael Nevat
V.P. and Chief Financial Officer Commitment-IR.com
Tel.: +972-3-572-3111 Tel: +972-3-611-4466
+972-50-762-6215
E-mail: zvif@pointer.com E-mail: yael@commitment-IR.com
Pointer Telocation Receives a $750,000 Products Order
Wednesday March 14, 3:32 pm ET
GIVATAYIM, Israel, March 14 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq: PNTR - News), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, received an order for products worth $750,000 to be supplied in 2007.
The order was received from Latin America customer for products to be installed in the cars of new subscribers.
Pointer's business partner in Latin America provides SVR services based on Pointer's technological infrastructure.
Danny Stern, Pointer Telocation CEO, said: "This order shows the level of faith in our products from our customers who have long-term experience of our products and services. We provide our business partners technological and marketing support, and are positive that such support has significant long term benefits, as illustrated by this order. We expect to further expand our mutual collaboration with our Latin America partner".
About Pointer Telocation: Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Zvi Fried, V.P. and Yael Nevat,Commitment-IR.com
Chief Financial Officer
Tel.; +972-3-572 3111 Tel: +972-3-611-4466, +972-50-762-6215
E-mail: zvif@pointer.com E-mail: yael@commitment-IR.com
Wednesday March 14, 3:32 pm ET
GIVATAYIM, Israel, March 14 /PRNewswire-FirstCall/ -- Pointer Telocation Ltd. (Nasdaq: PNTR - News), a leading provider of services to insurance companies and car owners, including road-side assistance, towing and stolen vehicle retrieval services in Israel, Argentina and Mexico, received an order for products worth $750,000 to be supplied in 2007.
The order was received from Latin America customer for products to be installed in the cars of new subscribers.
Pointer's business partner in Latin America provides SVR services based on Pointer's technological infrastructure.
Danny Stern, Pointer Telocation CEO, said: "This order shows the level of faith in our products from our customers who have long-term experience of our products and services. We provide our business partners technological and marketing support, and are positive that such support has significant long term benefits, as illustrated by this order. We expect to further expand our mutual collaboration with our Latin America partner".
About Pointer Telocation: Pointer Telocation Ltd www.pointer.com provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries. Independent operators provide similar services in Russia and Venezuela utilizing Pointer's technology and operational know-how.
Safe Harbor Statement
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Pointer and its affiliates. These forward-looking statements are based on the current expectations of the management of Pointer, only, and are subject to risk and uncertainties relating to changes in technology and market requirements, the company's concentration on one industry in limited territories, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Pointer undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting the company, reference is made to the company's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Zvi Fried, V.P. and Yael Nevat,Commitment-IR.com
Chief Financial Officer
Tel.; +972-3-572 3111 Tel: +972-3-611-4466, +972-50-762-6215
E-mail: zvif@pointer.com E-mail: yael@commitment-IR.com
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