NFC and contactless vendor On Track Innovations announced reduced losses in the second quarter and first half, along with share purchases by its directors; while a court ruling allows the company’s patent suit against T-Mobile USA to proceed.
Revenue for the quarter was $9.2 million, a 19% year-over-year increase. OTI’s announcement attributed this at least in part to a 30,000-unit order for NFC and contactless payment readers, as well as the awarding of a contract for three mass transportation e-ticketing projects in Poland, which will total $50 million over the next five to ten years, the vendor predicted. But first half revenue was still down by 12.3% to $17.8 million.
OTI is increasing its focus on contactless and NFC, including trying to monetize its patents on these technologies.