ROSH HAAYIN, Israel, August 15, 2011 /PRNewswire/ --
- Record Revenues of $43M in first six months of 2011, increase of 23% over 2010
- Non-GAAP net income of $2.5M in first six months of 2011
- Adjusted EBITDA $ 5.6M in first six months of 2011
Pointer Telocation Ltd. (Nasdaq CM: PNTR, TASE: PNTR) - a leading developer, manufacturer and operator of Mobile Resource Management (MRM) and roadside assistance services for the automotive industry, announced today its financial results for the second quarter of 2011.
David Mahlab, Chief Executive Officer of Pointer, commented on the results, "We are pleased with the continuous positive momentum in Q2 with the ongoing increase in sales of both equipment and services all across the regions. The company's large and stable customer base together with constant increase in average revenue per user (ARPU) support our business position. We have strong visibility based on new business opportunities and solid service solutions that will help us secure about 70% of our revenues for long term. In 2011 Pointer has continued developing new products and penetrating new markets to reinforce and increase its customer base. We increased our operating expenses in order to continue invest in promoting revenues improvement in the coming quarters. We intend to maintain our marketing efforts in the Latin American markets through strategic cooperation and we see positive indication for our strategy there. We expect these efforts will yield further growth opportunities".
Financial HighlightsRevenues: Pointer's revenues for the second quarter of 2011 increased 21% to $22.1 million, as compared to $18.3 million in the second quarter of 2010. In the first six months of 2011, revenues increased 23% to $43.2 million, as compared to $35.0 million in the first half of 2010. International activities for the second quarter and for the first half of 2011 were 28% of total revenues, as compared to 24% of total revenues in the first half of 2010.