NFC Times Exclusive Insight – Three months after new CEO Shlomi Cohen took the reins, Israel-based NFC and contactless vendor On Track Innovations reported a 31% sequential drop in revenue and a continued slump in contactless point-of-sale reader sales for the third quarter.
OTI’s leadership finally held a live question-and-answer session after Thursday’s earnings conference call, resuming the old format after two quarters of keeping investors and analysts at arm’s length. “As we execute our plan, I’m committed to improve our shareholder communication and be as transparent as possible,” said Cohen.
At the first quarter conference call earlier this year, the company began accepting questions only by email in advance of the earnings calls, often with very short notice given, likely in an attempt to deflect or avoid the difficult questions from investors, who have grown increasingly restless in recent quarters.
