On Track Innovations Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported total revenue of $16,042,000, operating profit of $634,000, profit before taxes on income of $484,000, net profit from continuing operations of $357,000 or $0.01 per basic and diluted share and net profit attributable to shareholders of $465,000 or $0.01 per basic and diluted share compared to total revenue of $10,043,000, operating loss of $2,597,000, loss before taxes on income of $3,177,000, net loss from continuing operations of $3,423,000 or $0.14 per basic and diluted share and net loss attributable to shareholders of $4,220,000 or $0.17 per basic and diluted share for the same period last year. Non-GAAP operating profit was $1,076,000, compared to non-GAAP operating loss of $1,788,000 last year. Non GAAP net profit attributable to shareholders was $907,000 or $0.03 basic per share compared to non-GAAP net loss attributable to shareholders of $2,576,000 or $0.10 basic per share for the same period a year ago. For the year, the company reported total revenue of $51,255,000, operating loss of $6,405,000, loss before taxes on income of $6,824,000, net loss from continuing operations of $7,093,000 or $0.22 per basic and diluted share and net loss attributable to shareholders of $6,925,000 or $0.22 per basic and diluted share compared to total revenue of $53,627,000, operating loss of $1,191,000, loss before taxes on income of $2,588,000, net loss from continuing operations of $2,999,000 or $0.12 per basic and diluted share and net loss attributable to shareholders of $6,189,000 or $0.25 per basic and diluted share for the same period last year. Non-GAAP operating loss was $3,965,000 compared to non-GAAP operating of $2,803,000 last year. Non-GAAP net loss attributable to shareholders was $4,485,000 or $0.14 basic per share compared to non-GAAP net profit attributable to shareholders of $1,097,000 or $0.04 basic per share for the same period a year ago. Net cash used in operating activities was $10,881,000 compared to net cash used in operating activities of $6,912,000 for the same period last year. Purchase of property and equipment was $1,191,000 compared to $2,346,000 for the same period last year. The company announced that revenues for 2012 are expected to be about $50 million with gross margin of 50-52%.