On Track Innovations Ltd. announced consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the fourth quarter, the company's total revenues were $22,382,000 against $20,564,000 a year ago. Operating loss from continuing operations was $1,268,000 against $1,891,000 a year ago. Loss from continuing operations before taxes on income was $1,609,000 against $2,287,000 a year ago. Net loss attributable to shareholders was $598,000 or $0.01 per basic/diluted share against $828,000 or $0.02 per basic/diluted share a year ago. Total LBITDA from continuing operations was $10,000 against $699,000 a year ago. Total adjusted EBITDA from continuing operations was $63,000 against total adjusted LBITDA from continuing operations of $515,000 a year ago.

For the year, the company's total revenues were $6,746,000 against $5,586,000 a year ago. Operating loss from continuing operations was $303,000 against $960,000 a year ago. Loss from continuing operations before taxes on income was $407,000 against $1,171,000 a year ago. Net loss attributable to shareholders was $693,000 or $0.02 per basic/diluted share against $1,209,000 or $0.03 per basic/diluted share a year ago. Net cash used in continuing operating activities was $2,288,000 against $2,142,000 a year ago. Purchase of property and equipment was $293,000 against $311,000 a year ago. Total LBITDA from continuing operations was $97,000 against $719,000 a year ago. Total adjusted EBITDA from continuing operations was $240,000 against total adjusted LBITDA from continuing operations of $214,000 a year ago. Debt is reduced by 11%.

For the year, the company expects 2018 to be a breakout year for OTI, driven by particular strength in 'smart' cashless ATM readers -- which grew five-fold in 2017, continued growth in fueling division -- which grew revenues over 24% in 2017, traction with cryptocurrency efforts, and accelerated penetration in Japan.