On Track Innovations Ltd. (NASDAQ:OTIV) Q3 2019 Earnings Conference Call - Final Transcript

Nov 11, 2019 • 09:00 am ET


On Track Innovations Ltd. (NASDAQ:OTIV) Q3 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome, everyone, to the On Track Innovations' Third Quarter 2019 Corporate Update Call. [Operator Instructions]

You should have received by now the Company's results press release. If you have not received it, please contact On Track Innovations Investor Relations team at GK Investor & Public Relations at 1-646-688-3559 or view it in the News section of the Company's website.

I would now like to hand the call over to Gavriel Frohwein of GK Investor & Public Relations. Please go ahead.

Gavriel Frohwein

Thank you, operator. Welcome to On Track Innovations 2019 third quarter conference call. I would like to thank management for hosting this call. With us on the call from OTI is Mr. Assaf Cohen, Interim CEO and Company's CFO. Assaf will use this forum to provide some of the key -- recent key highlights and review OTI's financial performance for the 2019 third quarter. Following the prepared remarks, we will go through investors submitted questions, and Assaf will provide the answers to those questions.

Please be advised that certain information discussed on this call will contain forward-looking statements. This can be identified by the use of the terms such as may, will, expect, believe, intend, plan and other comparable terms, for example, and in addition to what is mentioned in the Company's results press release. OTI is using forward-looking statements when it discloses, among others, OTI's belief that there is significant potential in Japan and OTI's expectations for success in 2020 onwards in Japan increases in sales and improvements, launching new products to the market, recovery in the US, the timing of the impact of OTI's new TRIO-IQ solution and its sales, growing recurring revenue, OTI's expectations that in 2020 onwards the difficulties will be behind it and its expectations to complete its recovery during 2020 and onwards, and its strong pipeline for 2020.

While forward-looking statements reflect good faith, belief and best judgment based on current information, they are not guarantees of future performance. They are subject to known and unknown uncertainties and risk factors, including those detailed from time to time in the Company's filings with the SEC. OTI assumes no obligation to update any forward-looking statements or information, which speak of their respective date. The full safe harbor provisions, as set forth in the press release we discussed last Wednesday, which are available on OTI's website at investors.otiglobal.com.

And with that, I would like to now hand over the call to the Company's interim CEO and continuing CFO, Assaf Cohen. Assaf, please go ahead.

Assaf Cohen

Thank you, Gavriel. Welcome all and thank you for joining us today. As you all know, OTI has been transitioning over the past few months and has undergone a search for a new CEO. In the interim, I was appointed the Interim CEO. Accordingly, during this time, we changed the format of the conference call with the prepared remarks being prerecorded. In addition, we're taking questions from investors via e-mail. Following my prepared remarks, I will