Pointer Telocation Systems Ltd. reported revenue of $16.9 million for the third quarter of 2009. The company had $3 million in cash at the end of September. The company is looking for acquisition opportunities.

Pointer Telocation Ltd. reported unaudited consolidated financial results for the third quarter and first nine months ended September 30, 2009. For the quarter, the company's revenues decreased by 18%, to $16.9 million, from $20.7 million in the comparable period in 2008. Operating income was increased by 9% to $2.5 million, compared to operating income of $2.3 million for the third quarter of 2008. Net income attributable to Pointer shareholders was $1.1 million or $0.23 per diluted share, as compared to net income of $0.7 million or $0.15 per diluted share in the third quarter of 2008. Net income, before giving effect to the exclusion of those earnings relating to non-controlling interests in accordance with SFAS 160, was $1.8 million. Non-GAAP net income was $1.9 million as compared to non-GAAP net income of $1.6 million in the third quarter of 2008. EBITDA was $3.6 million compared to $3.8 million a year ago. Income before taxes on income was $2.1 million compared to $1.2 million a year ago. Income after Income taxes was $1.1 million compared to $3.6 million a year ago. Net cash provided by operating activities was $2.3 million compared to $1.8 million a year ago. Purchase of property and equipment was $1.1 million compared to $0.76 million a year ago. For the nine months, the company's revenues were $48.5 million, a 17% decrease over the same period of 2008. Operating income was $2.7 million compared to $7.1 million for the same period of 2008. Operating income was primarily affected by the non-cash impairment of $3.0 million, attributable to a revised estimate of the fair market value of the business with certain customers of the Cellocator business which the company acquired in September 2007. Excluding this non-cash impairment, operating income was $5.7 million. Net loss attributable to company's shareholders was $1.7 million or $0.38 per diluted share, compared to net income of $2.3 million or $0.48 per diluted share in the same period of 2008. Net income attributable to non-controlling interest in affiliates was $2.4 million compared to $1.3 million for the third quarter of 2008. Net income, before giving effect to the exclusion of those earnings relating to non-controlling interests in accordance with SFAS 160, was $0.7 million. Non-GAAP net income was $3.5 million, compared to non-GAAP net income of $5.1 million in the same period of 2008. EBITDA was $9.3 million compared to $11.9 million a year ago. Income before taxes on income was $1.2 million compared to $3.9 million a year ago. Income after Income taxes was $2.01 million compared to $1.2 million a year ago. Net cash provided by operating activities was $7.3 million compared to $7.5 million a year ago. Purchase of property and equipment was $2.52 million compared to $2.53 million a year ago.

Pointer Telocation Ltd., Q3 2009 Earnings Call, Nov-11-2009