v2.4.1.9
Document And Entity Information
12 Months Ended
Dec. 31, 2014
Document Information [Line Items]  
Entity Registrant Name Pointer Telocation Ltd
Entity Central Index Key 0000920532
Current Fiscal Year End Date --12-31
Entity Filer Category Non-accelerated Filer
Trading Symbol PNTR
Document Period End Date Dec. 31, 2014
Document Type 20-F
Amendment Flag false
Document Fiscal Period Focus FY
Document Fiscal Year Focus 2014
Entity Common Stock, Shares Outstanding 7,688,564dei_EntityCommonStockSharesOutstanding
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Entity Current Reporting Status Yes
v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 8,557us-gaap_CashAndCashEquivalentsAtCarryingValue $ 3,349us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 62us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue 81us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue
Trade receivables (net of allowance for doubtful accounts of $ 1,417 and $ 1,270 at December 31, 2014 and 2013, respectively) 19,032us-gaap_AccountsReceivableNetCurrent 19,793us-gaap_AccountsReceivableNetCurrent
Other accounts receivable and prepaid expenses (Note 3) 1,853us-gaap_PrepaidExpenseAndOtherAssetsCurrent 2,033us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Inventories (Note 4) 6,133us-gaap_InventoryNet 6,038us-gaap_InventoryNet
Deferred tax asset (Note 17) 901us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent 0us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent
Property and equipment held for sale 1,034us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent 0us-gaap_DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
Total current assets 37,572us-gaap_AssetsCurrent 31,294us-gaap_AssetsCurrent
LONG-TERM ASSETS:    
Long-term accounts receivable 408us-gaap_AccountsReceivableNetNoncurrent 546us-gaap_AccountsReceivableNetNoncurrent
Severance pay fund (Note 2r) 8,609us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent 9,349us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
Property and equipment, net (Note 5) 10,075us-gaap_PropertyPlantAndEquipmentNet 13,975us-gaap_PropertyPlantAndEquipmentNet
Other intangible assets, net (Note 7) 1,950us-gaap_IntangibleAssetsNetExcludingGoodwill 2,936us-gaap_IntangibleAssetsNetExcludingGoodwill
Goodwill (Note 8) 48,941us-gaap_Goodwill 55,127us-gaap_Goodwill
Deferred tax asset (Note 17) 3,449us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent 0us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent
Total long-term assets 73,432us-gaap_AssetsNoncurrent 81,933us-gaap_AssetsNoncurrent
Total assets 111,004us-gaap_Assets 113,227us-gaap_Assets
CURRENT LIABILITIES:    
Short-term bank credit and current maturities of long-term loans (Note 9) 7,478us-gaap_DebtCurrent 10,643us-gaap_DebtCurrent
Trade payables 11,460us-gaap_AccountsPayableCurrent 14,793us-gaap_AccountsPayableCurrent
Deferred revenues and customer advances 6,420pntr_DeferredRevenuesAndCustomerAdvancesCurrent 7,753pntr_DeferredRevenuesAndCustomerAdvancesCurrent
Other accounts payable and accrued expenses (Note 10) 8,972us-gaap_OtherAccountsPayableAndAccruedLiabilities 10,768us-gaap_OtherAccountsPayableAndAccruedLiabilities
Total current liabilities 34,330us-gaap_LiabilitiesCurrent 43,957us-gaap_LiabilitiesCurrent
LONG-TERM LIABILITIES:    
Long-term loans from banks (Note 11) 12,046us-gaap_LongTermDebtNoncurrent 9,301us-gaap_LongTermDebtNoncurrent
Long-term loans from shareholders and others (Note 12) 997us-gaap_DueToRelatedPartiesNoncurrent 1,301us-gaap_DueToRelatedPartiesNoncurrent
Deferred taxes and other long-term liabilities (Note 13) 298us-gaap_OtherLiabilitiesNoncurrent 5,712us-gaap_OtherLiabilitiesNoncurrent
Accrued severance pay (Note 2r) 9,537pntr_AccruedSeverancePay 10,317pntr_AccruedSeverancePay
Total long term liabilities 22,878us-gaap_LiabilitiesNoncurrent 26,631us-gaap_LiabilitiesNoncurrent
COMMITMENTS AND CONTINGENT LIABILITIES (Note 14)      
Pointer Telocation Ltd's shareholders' equity:    
Share capital (Note 15) - Ordinary shares of NIS 3 par value - Authorized: 8,000,000 shares at December 31, 2014 and 2013; Issued and outstanding: 7,688,564 and 5,565,558 shares at December 31, 2014 and 2013, respectively 5,705us-gaap_CommonStockValue 3,878us-gaap_CommonStockValue
Additional paid-in capital 129,618us-gaap_AdditionalPaidInCapitalCommonStock 120,996us-gaap_AdditionalPaidInCapitalCommonStock
Accumulated other comprehensive income (2,909)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax 1,456us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Accumulated deficit (75,767)us-gaap_RetainedEarningsAccumulatedDeficit (89,220)us-gaap_RetainedEarningsAccumulatedDeficit
Total Pointer Telocation Ltd's shareholders' equity 56,647us-gaap_StockholdersEquity 37,110us-gaap_StockholdersEquity
Non-controlling interest (2,851)us-gaap_MinorityInterest 5,529us-gaap_MinorityInterest
Total equity 53,796us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 42,639us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilities and equity $ 111,004us-gaap_LiabilitiesAndStockholdersEquity $ 113,227us-gaap_LiabilitiesAndStockholdersEquity
v2.4.1.9
CONSOLIDATED BALANCE SHEETS (Parenthetical)
In Thousands, except Share data, unless otherwise specified
Dec. 31, 2014
USD ($)
Dec. 31, 2014
ILS
Dec. 31, 2013
USD ($)
Dec. 31, 2013
ILS
Allowance for Doubtful Accounts Receivable, Current $ 1,417us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent   $ 1,270us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent  
Ordinary shares, Par or Stated Value Per Share (in dollars per share)   3.00us-gaap_CommonStockParOrStatedValuePerShare   3.00us-gaap_CommonStockParOrStatedValuePerShare
Ordinary shares, Shares Authorized 8,000,000us-gaap_CommonStockSharesAuthorized 8,000,000us-gaap_CommonStockSharesAuthorized 8,000,000us-gaap_CommonStockSharesAuthorized 8,000,000us-gaap_CommonStockSharesAuthorized
Ordinary shares, Shares, Issued 7,688,564us-gaap_CommonStockSharesIssued 7,688,564us-gaap_CommonStockSharesIssued 5,565,558us-gaap_CommonStockSharesIssued 5,565,558us-gaap_CommonStockSharesIssued
Ordinary shares, Shares, Outstanding 7,688,564us-gaap_CommonStockSharesOutstanding 7,688,564us-gaap_CommonStockSharesOutstanding 5,565,558us-gaap_CommonStockSharesOutstanding 5,565,558us-gaap_CommonStockSharesOutstanding
v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Revenues (Note 19c):      
Products $ 33,099us-gaap_SalesRevenueGoodsNet $ 34,662us-gaap_SalesRevenueGoodsNet $ 30,402us-gaap_SalesRevenueGoodsNet
Services 72,191us-gaap_SalesRevenueServicesNet 63,195us-gaap_SalesRevenueServicesNet 54,430us-gaap_SalesRevenueServicesNet
Total revenues 105,290us-gaap_Revenues [1] 97,857us-gaap_Revenues [1] 84,832us-gaap_Revenues [1]
Cost of revenues:      
Products 19,279us-gaap_CostOfGoodsSold 20,763us-gaap_CostOfGoodsSold 17,988us-gaap_CostOfGoodsSold
Services 50,461us-gaap_CostOfServices 45,497us-gaap_CostOfServices 38,573us-gaap_CostOfServices
Amortization and impairment of intangible assets 0us-gaap_CostOfGoodsAndServicesSoldAmortization 0us-gaap_CostOfGoodsAndServicesSoldAmortization 181us-gaap_CostOfGoodsAndServicesSoldAmortization
Total cost of revenues 69,740us-gaap_CostOfRevenue 66,260us-gaap_CostOfRevenue 56,742us-gaap_CostOfRevenue
Gross profit 35,550us-gaap_GrossProfit 31,597us-gaap_GrossProfit 28,090us-gaap_GrossProfit
Operating expenses:      
Research and development 3,390us-gaap_ResearchAndDevelopmentExpense 3,244us-gaap_ResearchAndDevelopmentExpense 2,716us-gaap_ResearchAndDevelopmentExpense
Selling and marketing 11,219us-gaap_SellingAndMarketingExpense 10,398us-gaap_SellingAndMarketingExpense 9,067us-gaap_SellingAndMarketingExpense
General and administrative 11,883us-gaap_GeneralAndAdministrativeExpense 10,539us-gaap_GeneralAndAdministrativeExpense 9,232us-gaap_GeneralAndAdministrativeExpense
Other general and administrative expenses )Note 1b and 1n) 683us-gaap_OtherGeneralAndAdministrativeExpense 403us-gaap_OtherGeneralAndAdministrativeExpense 0us-gaap_OtherGeneralAndAdministrativeExpense
Other income (note 1j) (288)us-gaap_OtherOperatingIncome 0us-gaap_OtherOperatingIncome 0us-gaap_OtherOperatingIncome
Amortization of intangible assets 994us-gaap_AmortizationOfIntangibleAssets 967us-gaap_AmortizationOfIntangibleAssets 1,987us-gaap_AmortizationOfIntangibleAssets
Impairment of intangible and tangible assets 1,122us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges
Total operating expenses 29,003us-gaap_OperatingExpenses 25,551us-gaap_OperatingExpenses 23,002us-gaap_OperatingExpenses
Operating income 6,547us-gaap_OperatingIncomeLoss 6,046us-gaap_OperatingIncomeLoss 5,088us-gaap_OperatingIncomeLoss
Financial expenses, net (Note 20a) 2,424us-gaap_NonoperatingIncomeExpense 1,077us-gaap_NonoperatingIncomeExpense 1,628us-gaap_NonoperatingIncomeExpense
Other expenses (income), net (Note 20b) 232us-gaap_OtherNonoperatingIncomeExpense (3,299)us-gaap_OtherNonoperatingIncomeExpense 5us-gaap_OtherNonoperatingIncomeExpense
Income before taxes on income 3,891us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 8,268us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 3,455us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Tax expenses (income), (Note 17) (8,849)us-gaap_IncomeTaxExpenseBenefit 1,337us-gaap_IncomeTaxExpenseBenefit 861us-gaap_IncomeTaxExpenseBenefit
Income after taxes on income 12,740pntr_IncomeLossFromContinuingOperationsBeforeMinorityInterestAndIncomeLossFromEquityMethodInvestments 6,931pntr_IncomeLossFromContinuingOperationsBeforeMinorityInterestAndIncomeLossFromEquityMethodInvestments 2,594pntr_IncomeLossFromContinuingOperationsBeforeMinorityInterestAndIncomeLossFromEquityMethodInvestments
Equity in gains of affiliate (Note 6) 0us-gaap_IncomeLossFromEquityMethodInvestments 340us-gaap_IncomeLossFromEquityMethodInvestments 38us-gaap_IncomeLossFromEquityMethodInvestments
Income from continuing operations 12,740us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 7,271us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 2,632us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Loss from discontinued operations, net 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 995us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income 12,740us-gaap_NetIncomeLoss 7,271us-gaap_NetIncomeLoss 1,637us-gaap_NetIncomeLoss
Other comprehensive income:      
Currency translation adjustments of foreign operations (4,292)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax 1,006us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax 299us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
Realized currency translation adjustments of foreign operations 0us-gaap_ForeignCurrencyTransactionGainLossRealized (50)us-gaap_ForeignCurrencyTransactionGainLossRealized 0us-gaap_ForeignCurrencyTransactionGainLossRealized
Realized income (losses) on derivatives designated as cash flow hedges 0us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent (24)us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent 224us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
Unrealized losses on derivatives designated as cash flow hedges 0us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax 0us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax 14us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
Total comprehensive income 8,448us-gaap_ComprehensiveIncomeNetOfTax 8,203us-gaap_ComprehensiveIncomeNetOfTax 2,174us-gaap_ComprehensiveIncomeNetOfTax
Profit (loss) from continuing operations attributable to:      
Equity holders of the parent 13,453us-gaap_IncomeLossFromContinuingOperations 6,320us-gaap_IncomeLossFromContinuingOperations 1,833us-gaap_IncomeLossFromContinuingOperations
Non-controlling interests (713)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity 951us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity 799us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
Total 12,740us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 7,271us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 2,632us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Loss from discontinued operations attributable to:      
Equity holders of the parent 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 630us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Non-controlling interests 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest 365us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
Net loss from discontinued operations 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 995us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Total comprehensive income attributable to:      
Equity holders of the parent 9,088us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent 6,649us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent 1,493us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
Non-controlling interests (640)us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest 1,554us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest 681us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
Total comprehensive income $ 8,448us-gaap_ComprehensiveIncomeNetOfTax $ 8,203us-gaap_ComprehensiveIncomeNetOfTax $ 2,174us-gaap_ComprehensiveIncomeNetOfTax
Earnings per share from continuing operations attributable to Pointer Telocation Ltd's shareholders (Note 16):      
Basic net earnings per share (in dollars per share) $ 1.81us-gaap_EarningsPerShareBasic $ 1.14us-gaap_EarningsPerShareBasic $ 0.35us-gaap_EarningsPerShareBasic
Diluted net earnings per share (in dollars per share) $ 1.74us-gaap_EarningsPerShareDiluted $ 1.10us-gaap_EarningsPerShareDiluted $ 0.35us-gaap_EarningsPerShareDiluted
[1] Revenues are attributed to geographic areas based on the location of the end-customers.
v2.4.1.9
STATEMENTS OF CHANGES IN EQUITY (USD $)
In Thousands, except Share data
Total
Share Capital [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Deficit [Member]
Noncontrolling Interest [Member]
Balance at Dec. 31, 2011 $ 31,801us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 3,353us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
$ 119,147us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 837us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ (96,743)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 5,207us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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Balance (in shares) at Dec. 31, 2011   4,860,024us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
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Issuance of shares and exercise of options, net 1,942us-gaap_StockIssuedDuringPeriodValueOther 517us-gaap_StockIssuedDuringPeriodValueOther
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1,425us-gaap_StockIssuedDuringPeriodValueOther
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0us-gaap_StockIssuedDuringPeriodValueOther
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0us-gaap_StockIssuedDuringPeriodValueOther
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0us-gaap_StockIssuedDuringPeriodValueOther
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Issuance of shares and exercise of options, net (in shares)   694,034us-gaap_StockIssuedDuringPeriodSharesOther
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Issuance of shares in respect of Stock-based compensation 5us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation 1us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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4us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
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Issuance of shares in respect of Stock-based compensation (in shares)   1,500us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation
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Purchase of subsidiary 133us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance 0us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
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0us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
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133us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
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Stock-based compensation expenses 265us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue 0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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265us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Purchase of non- controlling interest 0us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination 0us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination
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(228)us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination
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0us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination
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0us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination
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228us-gaap_NoncontrollingInterestIncreaseFromBusinessCombination
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0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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(1,215)us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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Exercise of options in subsidiary 0pntr_ExerciseOfOptionsInSubsidiary 0pntr_ExerciseOfOptionsInSubsidiary
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(323)pntr_ExerciseOfOptionsInSubsidiary
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    323pntr_ExerciseOfOptionsInSubsidiary
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Sale of subsidiary 241us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest 0us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
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0us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
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241us-gaap_NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
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Other comprehensive income 537us-gaap_OtherComprehensiveIncomeLossNetOfTax 0us-gaap_OtherComprehensiveIncomeLossNetOfTax
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0us-gaap_OtherComprehensiveIncomeLossNetOfTax
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290us-gaap_OtherComprehensiveIncomeLossNetOfTax
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0us-gaap_OtherComprehensiveIncomeLossNetOfTax
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247us-gaap_OtherComprehensiveIncomeLossNetOfTax
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Net income (loss) attributable to Non -controlling interest (799)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity 0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
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0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
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434us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
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Net income attributable to Pointer shareholders 1,833us-gaap_IncomeLossFromContinuingOperations 0us-gaap_IncomeLossFromContinuingOperations
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0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
1,203us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Balance at Dec. 31, 2012 35,346us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 3,871us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
120,290us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
1,127us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
(95,540)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
5,598us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Balance (in shares) at Dec. 31, 2012   5,555,558us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
       
Issuance of shares in respect of Stock-based compensation 27us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation 7us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
20us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
0us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Issuance of shares in respect of Stock-based compensation (in shares)   10,000us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
       
Stock-based compensation expenses 374us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue 0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
354us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
20us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Dividend payable to non-controlling interest (1,311)us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders 0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(1,311)us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Expiration of options in subsidiary 0pntr_ExpirationOfOptionsInSubsidiary 0pntr_ExpirationOfOptionsInSubsidiary
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
332pntr_ExpirationOfOptionsInSubsidiary
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0pntr_ExpirationOfOptionsInSubsidiary
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0pntr_ExpirationOfOptionsInSubsidiary
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(332)pntr_ExpirationOfOptionsInSubsidiary
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Other comprehensive income 932us-gaap_OtherComprehensiveIncomeLossNetOfTax 0us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
329us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
603us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Net income (loss) attributable to Non -controlling interest (951)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity 0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
951us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Net income attributable to Pointer shareholders 6,320us-gaap_IncomeLossFromContinuingOperations 0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
6,320us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Balance at Dec. 31, 2013 42,639us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 3,878us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
120,996us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
1,456us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
(89,220)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
5,529us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Balance (in shares) at Dec. 31, 2013   5,565,558us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
       
Issuance of share capital (net of issue expenses of USD 383 thousands) 21,442us-gaap_StockIssuedDuringPeriodValueNewIssues 1,827us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
19,615us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
0us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Issuance of share capital (net of issue expenses of USD 383 thousands) (in shares)   2,123,006us-gaap_StockIssuedDuringPeriodSharesNewIssues
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
       
Stock-based compensation expenses 375us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue 0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
375us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
0us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Acquisition of non-controlling interests (19,108)us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation 0us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
(11,368)us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(7,740)us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Other comprehensive income (4,292)us-gaap_OtherComprehensiveIncomeLossNetOfTax 0us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(4,365)us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
73us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Net income (loss) attributable to Non -controlling interest 713us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity 0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
0us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
(713)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Net income attributable to Pointer shareholders 13,453us-gaap_IncomeLossFromContinuingOperations 0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
13,453us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
0us-gaap_IncomeLossFromContinuingOperations
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Balance at Dec. 31, 2014 $ 53,796us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 5,705us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
$ 129,618us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (2,909)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
$ (75,767)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (2,851)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_NoncontrollingInterestMember
Balance (in shares) at Dec. 31, 2014   7,688,564us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= pntr_ShareCapitalMember
       
v2.4.1.9
STATEMENTS OF CHANGES IN EQUITY (Parenthetical) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Payments of Stock Issuance Costs $ 383us-gaap_PaymentsOfStockIssuanceCosts
v2.4.1.9
STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - Accumulated other comprehensive income (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Accumulated foreign currency translation differences $ (2,909)us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $ 1,456us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
Accumulated other comprehensive income $ (2,909)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax $ 1,456us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net income $ 12,740us-gaap_NetIncomeLoss $ 7,271us-gaap_NetIncomeLoss $ 1,637us-gaap_NetIncomeLoss
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 4,767us-gaap_DepreciationDepletionAndAmortization 4,049us-gaap_DepreciationDepletionAndAmortization 5,551us-gaap_DepreciationDepletionAndAmortization
Impairment of tangible and intangible assets 1,122us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges 0us-gaap_AssetImpairmentCharges
Gain from obtaining control in a subsidiary previously accounted for by the equity method 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal (3,299)us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal
Gain from a bargain purchase (288)us-gaap_OtherNoncashIncome 0us-gaap_OtherNoncashIncome 0us-gaap_OtherNoncashIncome
Accrued interest and exchange rate changes of debenture and long-term loans 17us-gaap_IncreaseDecreaseInInterestPayableNet 21us-gaap_IncreaseDecreaseInInterestPayableNet 118us-gaap_IncreaseDecreaseInInterestPayableNet
Accrued severance pay, net 56us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities (397)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities 91us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities
Gain from sale of property and equipment, net (95)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (195)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (271)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Equity in gains of affiliate 0us-gaap_IncomeLossFromEquityMethodInvestments (340)us-gaap_IncomeLossFromEquityMethodInvestments (38)us-gaap_IncomeLossFromEquityMethodInvestments
Stock-based compensation 375us-gaap_ShareBasedCompensation 374us-gaap_ShareBasedCompensation 265us-gaap_ShareBasedCompensation
Decrease in restricted cash 19us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities 27us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities 15us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities
Increase in trade receivables, net (1,141)us-gaap_IncreaseDecreaseInAccountsReceivable (1,270)us-gaap_IncreaseDecreaseInAccountsReceivable (1,572)us-gaap_IncreaseDecreaseInAccountsReceivable
Decrease (increase) in other accounts receivable and prepaid expenses (21)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 148us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 46us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Decrease (increase) in inventories (462)us-gaap_IncreaseDecreaseInInventories (685)us-gaap_IncreaseDecreaseInInventories 732us-gaap_IncreaseDecreaseInInventories
Decrease (increase) Deferred income taxes (9,120)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 1,272us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 847us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Decrease (increase) in long-term accounts receivable 126us-gaap_IncreaseDecreaseInOtherReceivables (4)us-gaap_IncreaseDecreaseInOtherReceivables 234us-gaap_IncreaseDecreaseInOtherReceivables
Increase in trade payables (654)us-gaap_IncreaseDecreaseInAccountsPayable 1,290us-gaap_IncreaseDecreaseInAccountsPayable 960us-gaap_IncreaseDecreaseInAccountsPayable
Increase (decrease) in other accounts payable and accrued expenses (1,845)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities 1,449us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities (274)us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
Net cash provided by operating activities 5,596us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 9,711us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 8,341us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:      
Purchase of property and equipment (4,458)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (4,663)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (4,033)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of property and equipment 1,529us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,216us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,733us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Investment and loans/Repayments in affiliate 0us-gaap_PaymentsToAcquireEquityMethodInvestments 137us-gaap_PaymentsToAcquireEquityMethodInvestments (669)us-gaap_PaymentsToAcquireEquityMethodInvestments
Acquisition of subsidiary (a) (688)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries (3,973)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries (251)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries
Purchase of business activity (b) 0us-gaap_PaymentsToAcquireBusinessesGross 0us-gaap_PaymentsToAcquireBusinessesGross (3,125)us-gaap_PaymentsToAcquireBusinessesGross
Proceeds from sale of investments in previously consolidated subsidiaries (c) (41)us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries 0us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries 0us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries
Net cash used in investing activities (3,658)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (7,283)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (6,345)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:      
Receipt of long-term loans from banks 12,577us-gaap_ProceedsFromBankDebt 7,127us-gaap_ProceedsFromBankDebt 11,670us-gaap_ProceedsFromBankDebt
Repayment of long-term loans from banks (8,986)us-gaap_RepaymentsOfBankDebt (10,137)us-gaap_RepaymentsOfBankDebt (12,253)us-gaap_RepaymentsOfBankDebt
Repayment of long-term loans from shareholders (301)us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt 0us-gaap_RepaymentsOfLongTermDebt
Dividend paid to non-controlling interest 0us-gaap_PaymentsOfDividendsMinorityInterest 0us-gaap_PaymentsOfDividendsMinorityInterest (1,215)us-gaap_PaymentsOfDividendsMinorityInterest
Repurchase of shares from non-controlling interests (7,740)us-gaap_PaymentsForRepurchaseOfEquity 0us-gaap_PaymentsForRepurchaseOfEquity 0us-gaap_PaymentsForRepurchaseOfEquity
Proceeds from issuance of shares and exercise of options, net of issuance costs 10,074us-gaap_ProceedsFromIssuanceOrSaleOfEquity 7us-gaap_ProceedsFromIssuanceOrSaleOfEquity 1,947us-gaap_ProceedsFromIssuanceOrSaleOfEquity
Short-term bank credit, net (1,640)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit 563us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (345)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Net cash provided (used) in financing activities 3,984us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (2,440)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (196)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate on cash and cash equivalents (714)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (324)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 417us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Increase (decrease) in cash and cash equivalents 5,208us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (336)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 2,217us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at the beginning of the year 3,349us-gaap_CashAndCashEquivalentsAtCarryingValue 3,685us-gaap_CashAndCashEquivalentsAtCarryingValue 1,468us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at the end of the year $ 8,557us-gaap_CashAndCashEquivalentsAtCarryingValue $ 3,349us-gaap_CashAndCashEquivalentsAtCarryingValue $ 3,685us-gaap_CashAndCashEquivalentsAtCarryingValue
v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS - Additional Cash Flow Elements(USD ($))
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
(a) Acquisition of subsidiary:      
Working capital (Cash and cash equivalent excluded) $ 221pntr_BusinessAcquisitionPurchasePriceAllocationWorkingCapital $ 130pntr_BusinessAcquisitionPurchasePriceAllocationWorkingCapital $ 0pntr_BusinessAcquisitionPurchasePriceAllocationWorkingCapital
Property and equipment 565us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment 2,486us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment 22us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
Technology 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets 58us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets
Other intangible assets 190us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill 1,690us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
Goodwill (288)pntr_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedGoodwill 4,894pntr_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedGoodwill 304pntr_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedGoodwill
Long term loans from banks and others 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt (1,342)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt
Investment in subsidiary previously accounted for by the equity method 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets (3,885)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets 0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets
Non-controlling Interest 0pntr_BusinessAcquisitionsPurchasePriceAllocationNoncontrollingInterest 0pntr_BusinessAcquisitionsPurchasePriceAllocationNoncontrollingInterest (133)pntr_BusinessAcquisitionsPurchasePriceAllocationNoncontrollingInterest
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net 688us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet 3,973us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet 251us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
(b) Purchase of business activity:      
Working capital 0pntr_PurchaseOfActivityWorkingCapital 0pntr_PurchaseOfActivityWorkingCapital 27pntr_PurchaseOfActivityWorkingCapital
Property and equipment     112pntr_PurchaseOfActivityPropertyAndEquipment
Customer list     1,364pntr_PurchaseOfActivityCustomerList
Goodwill 0pntr_PurchaseOfActivityGoodwill 0pntr_PurchaseOfActivityGoodwill 1,669pntr_PurchaseOfActivityGoodwill
Accrued severance pay, net 0pntr_PurchaseOfActivityAccruedSeverancePayNet 0pntr_PurchaseOfActivityAccruedSeverancePayNet (23)pntr_PurchaseOfActivityAccruedSeverancePayNet
Employees accruals 0pntr_PurchaseOfActivityEmployeeAccruals 0pntr_PurchaseOfActivityEmployeeAccruals (24)pntr_PurchaseOfActivityEmployeeAccruals
Purchase Of Business Activity 0pntr_PurchaseOfBusinessActivity 0pntr_PurchaseOfBusinessActivity 3,125pntr_PurchaseOfBusinessActivity
The subsidiaries' assets and liabilities at date of sale:      
Working capital (excluding cash and cash equivalents) (18)pntr_DisposalGroupWorkingCapitalExcludingCashAndCashEquivalents 0pntr_DisposalGroupWorkingCapitalExcludingCashAndCashEquivalents 7pntr_DisposalGroupWorkingCapitalExcludingCashAndCashEquivalents
Property and equipment (30)pntr_ProceedsFromDisposalGroupPropertyAndEquipment 0pntr_ProceedsFromDisposalGroupPropertyAndEquipment 0pntr_ProceedsFromDisposalGroupPropertyAndEquipment
Long term loans from banks and others 5pntr_DisposalGroupLongTermLoansFromBanksAndOthers 0pntr_DisposalGroupLongTermLoansFromBanksAndOthers 0pntr_DisposalGroupLongTermLoansFromBanksAndOthers
Non-controlling interests (125)pntr_DisposalGroupNoncontrollingInterest 0pntr_DisposalGroupNoncontrollingInterest 241pntr_DisposalGroupNoncontrollingInterest
Loss from sale of subsidiaries 209pntr_DisposalGroupLossFromSaleOfSubsidiaries 0pntr_DisposalGroupLossFromSaleOfSubsidiaries (248)pntr_DisposalGroupLossFromSaleOfSubsidiaries
Proceeds From Sale Of Subsidiaries 41pntr_ProceedsFromSaleOfSubsidiaries 0pntr_ProceedsFromSaleOfSubsidiaries 0pntr_ProceedsFromSaleOfSubsidiaries
(d) Non-cash investing activity:      
Purchase of property and equipment 45us-gaap_CapitalExpendituresIncurredButNotYetPaid 392us-gaap_CapitalExpendituresIncurredButNotYetPaid 90us-gaap_CapitalExpendituresIncurredButNotYetPaid
Purchase of property and equipment at finance lease 0pntr_PurchaseOfPropertyAndEquipmentAtFinanceLease 3pntr_PurchaseOfPropertyAndEquipmentAtFinanceLease 17pntr_PurchaseOfPropertyAndEquipmentAtFinanceLease
Dividend payable for non-controlling interest in a consolidated subsidiary 0pntr_DividendPayableForNoncontrollingInterestInConsolidatedSubsidiary 1,311pntr_DividendPayableForNoncontrollingInterestInConsolidatedSubsidiary 0pntr_DividendPayableForNoncontrollingInterestInConsolidatedSubsidiary
Issuance of shares in respect of acquisition of non-controlling interests in subsidiary 11,368us-gaap_StockIssued1 0us-gaap_StockIssued1 0us-gaap_StockIssued1
(e) Supplemental disclosure of cash flow activity:      
Interest 2,604us-gaap_InterestPaid 1,189us-gaap_InterestPaid 1,528us-gaap_InterestPaid
Income taxes $ 367us-gaap_IncomeTaxesPaid $ 114us-gaap_IncomeTaxesPaid $ 52us-gaap_IncomeTaxesPaid
v2.4.1.9
GENERAL
12 Months Ended
Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
NOTE 1:- GENERAL
 
a.
Pointer Telocation Ltd. ("the Company") was incorporated in Israel and commenced operations in July 1991. The Company conducts its operations through three main segments. Through its Cellocator segment, the Company designs, develops and produces leading mobile resource management products, including asset tracking, fleet management, and security products, for sale to third party operators providing mobile resource management services and to our MRM segment. Through its MRM segment, the Company acts as an operator by bundling its products together with a range of services, including stolen vehicle retrieval services and fleet management services, and through its RSA segment provides road-side assistance services in Israel for sale to insurance companies, fleets and individual customers.
 
The Company provides services, for the most part, in Israel, Argentina, Mexico, South Africa and Brazil, through its local subsidiaries and affiliates. The Company sells its products worldwide through direct sell, its local subsidiaries and affiliates to independent operators provide similar services in Latin America, Europe and other countries utilizing the Company's technology and operational know-how. The Company's shares are traded on the NASDAQ Capital Market. On January 17, 2012, the Company delisted its ordinary shares from trading on the Tel Aviv Stock Exchange effective as of April 17, 2012. 
 
b.
As of January 14th, 2014 The Company held 54.48% of the share capital of Shagrir Systems Ltd. ("Shagrir"). On January 15th, 2014 the Company acquired the 45.5% remaining interest in Shagrir. In consideration for the acquired interest in Shagrir: (i) the Company paid an aggregate of $7.8 million using credit facilities from banking institutions and (ii) issued 994,357 Ordinary Shares to Shagrir's selling shareholders.
   
Shagrir is engaged in the field of road side assistance ("RSA"), towing services and stolen vehicle recovery in Israel.
 
On December 30, 2014, Shagrir sold the RSA operation, assets and liabilities into a new wholly owned subsidiary, Shagrir Group Vehicle Services Ltd ("Shagrir Group"). Following this transaction, Shagrir, with its remaining assets (primarily Fleet Management and Stolen Vehicle Recovery services), was merged into the company effective as of December 31, 2014 (the “Reorganization”) following the merger Shagrir was liquidated.
 
Following the transaction Shagrir recorded expenses related to the transaction in the amount of $683 (out of which $200 was paid till December 31, 2014 and the balance will be paid during 2015). As a result of the Reorganization, Shagrir conclude that certain ERP systems will not be used and that certain motor vehicles will be sold and therefore are classified as held for sale. As a result, the Company recorded an impairment charge in the amount of $594 related to the ERP system and the motor vehicles.
 
Following the merger of Shagrir into the company, the company recorded tax income in the amount of $8,831 due to decrease in valuation allowance related to carry forward losses of the company that are more likely than not to be offset against future income and other temporary differences.
 
c.
In June 2008, Shagrir incorporated a Romanian company, S.C. Pointer S.R.L. ("Pointer Romania"), to provide road-side assistance and towing services in Romania. Shagrir held 50% of the share capital of Pointer Romania. On January 1, 2012, Shagrir signed an agreement with the Romanian shareholder, pursuant to which he transferred to Shagrir 15% of the issued share capital of the Romanian subsidiary. As a result, Shagrir holds 65% of the share capital of Pointer Romania.
 
In December 2014, Shagrir signed an agreement to sell the Romanian subsidiary to the subsidiary's CEO ("CEO") for its par value.
 
As a result of the agreement, Shagrir recorded in 2014 a loss in the amount of $209 that was recorded in "other expenses" in the statement of operation. The results of operation of the Romanian subsidiary in 2012, 2013 and 2014 were immaterial.
 
d.
The Company holds 93% of the share capital of Argentina SA's (formerly: Tracsat S.A.) ("Pointer Argentina"). Pointer Argentina is the operator of the Company's systems and products that provides fleet management and stolen vehicle recovery services in Buenos Aires, Argentina.
 
e.
The Company holds 74% of the share capital of Pointer Recuperation de Mexico S.A. de C.V. ("Pointer Mexico"), the remaining 26% of the share capital being held by local Mexican partners. Pointer Mexico provides fleet management and stolen vehicle recovery services to its customers in Mexico as well as distributing the Company's products.
 
f.
In August 2008 the Company incorporated a company in Brazil by the name of Pointer do Brasil Comercial S.A. ("Pointer Brazil"). Pointer Brazil provides location, tracking and fleet management vehicles services to its customers in Brazil. As of October 13th, 2013 Company held 48.8% of the share capital in Pointer Brazil.
 
In March 2014, Company has changed its legal form from corporation to Limited Liability Company (LLC), and its trading name from Pointer do Brasil Comercial S.A. to Pointer do Brasil Comercial Ltda., according to its article of association duly registered and properly approved by its shareholders.
 
In July 2013, the Company incorporated a wholly-owned subsidiary in Brazil at the name of Pointer do Brasil Participações Ltda. ("Pointer Brazil Holdings").
 
On October 14, 2013, the Company acquired the remaining 51.2% of the issued share capital of Pointer Brazil from Bracco do Brasil Empreendimentos e Participações Ltda. ("Bracco") through Pointer Brazil Holdings. Following the completion of the transaction, the Company holds 100% of the issued share capital of Pointer Brazil.
 
In consideration for the shares, the Company paid to Bracco approximately $4.3 million in cash and agreed to repay loans to Bracco and a local bank, over a period of eighteen months, in an aggregate amount of approximately $1.2 million.
 
In May 2014, Pointer Brazil was merged with Pointer do Brasil Participações Ltda. As a result of this merger, The Company holds directly 100% of the issued share capital of Pointer Brazil.
 
The acquisition was accounted for under the purchase method of accounting as determined by ASC Topic 805, "Business Combinations". Accordingly, the purchase price was allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition. The company's interest in Pointer Brazil immediately before obtaining control was remeasured at fair value as of the acquisition date. The Company recognized in Other income a gain at the amount of $3,299 from the remeasurement of the previously held investment.
 
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date:
 
Working capital, net
 
$
130
 
Property and equipment
 
 
2,486
 
Other intangible assets
 
 
1,690
 
Goodwill
 
 
4,894
 
Long term loans from bank and others
 
 
(1,342)
 
Fair value of investment in subsidiary previously accounted for by the equity method
 
 
(3,885)
 
 
 
$
3,973
 
 
Unaudited pro forma condensed results of operations
 
The following represents the unaudited pro forma condensed results of operations for the years ended December 31, 2013 and 2014 assuming that the acquisitions of Pointer Brazil occurred on January 1, 2013. The pro forma information is not necessarily indicative of the results of operations, which actually would have occurred had the acquisitions been consummated on those dates, nor does it purport to represent the results of operations for future periods:
 
 
 
Unaudited
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Revenues
 
$
104,238
 
$
91,414
 
 
 
 
 
 
 
 
 
Net income
 
$
6,269
 
$
1,763
 
 
 
 
 
 
 
 
 
Earnings per share from continuing operations attributable to Pointer Telocation Ltd's shareholders:
 
 
 
 
 
 
 
Basic net earnings per share
 
$
1.13
 
$
0.35
 
Diluted net earnings per share
 
$
1.10
 
$
0.35
 
 
On March 2014, Pointer Brazil has changed its legal form from corporation to Limited Liability Company (LLC), and its trading name from Pointer do Brasil Comercial S.A. to
 
Pointer do Brasil Comercial Ltda., according to its article of association duly registered and properly approved by its shareholders.
 
On May 2014, Pointer Brazil Holdings was merged into Pointer Brazil. As a result of this merger, the Company holds directly the issued capital of Pointer Brazil.
 
g.
In October 2008, the Company established a wholly-owned subsidiary in the United States, Pointer Telocation Inc.
 
h.
On May 15, 2009, the Company's subsidiary Shagrir acquired ownership of 51% of the ordinary shares of Car2go Ltd., which is engaged in car sharing and motor vehicle rental.
 
On February 28, 2012, Shagrir signed an agreement with the non-controlling shareholder of Car2go, pursuant to which Shagrir invested NIS 3,000 in cash or in services in consideration for 3,087 of Car2go's Ordinary shares. Following the issuance, Shagrir holds 58.46% of Car2go. However, the terms of the agreement provide that if there is no additional investment in Car2go by a third party within two years from signing, Shagrir's holding may increase to 62.3%. The transaction was accounted as an equity transaction.
 
During 2014 Car2go incurred losses in amount of NIS 2,534 and as of December 31, 2014 has a deficit in its working capital in amount of NIS 1,960. The company committed to finance the operations of Car2go according to the budget during a year from signing the financial statement. The company will provide such financing in the form of shareholder's loans.
 
In 2014, following the annual goodwill impairment test in accordance with ASC 350 "Intangibles - Goodwill and Others". As a result of the impairment test, the Company fully impaired the goodwill attributed to Car2Go at the amount of $ 528. These amounts were recorded in the 2014 Consolidated Statement of Operation under the captions "Impairment of intangible and tangible assets". The material assumptions used for the income approach for 2014 were 5 years of projected net cash flows, a discount rate of 14% and a long-term growth rate of 3%
 
On April 9, 2014, Shagrir signed an agreement with car 2 go according to which Shagrir provided Car2go a convertible loan totaling NIS 3 million ("the loan principal"). The loan principal is linked to the Israeli CPI and bears annual interest of 7% to be calculated on a compounded interest basis. The loan principal the interest and the linkage (as defined below) will be repaid by Car2go starting from the end of two years from the date of receiving the loan provided that Shagrir has not repaid the loan or converted the loan into equity prior to the maturity dates specified below.
 
If Car2go raises capital (not loans) from third parties in a total of at least NIS 5 million before the repayment of the entire loan ("the capital raising"), then on the date of completion of such transaction Shagrir will be entitled to convert the outstanding (unpaid) loan into shares of the same type and rights as those allocated in the capital raising at a 30% discount on the share price in the capital raising.
 
If Car2go fails to complete the capital raising within 12 months from the date of receiving the loan principal, the Company will be entitled to convert the outstanding (unpaid) loan, at any time from the end of said 12 months until the full repayment of the loan, into Preferred A shares of Car2go at a company value of NIS 10 million before the money on a fully diluted basis. The Preferred A shares will confer preference rights to their holders.
 
In addition, effective from April 1, 2014, the loan that had been granted to Car2go on May 15, 2009 (in a total of NIS 6 million) will bear interest of 6% instead of 4% and the maturity date will be deferred from January 2014 to March 2016.
 
i.
On June 28, 2010, Shagrir, together with an Israeli partner (hereinafter the "minority shareholder") entered into an agreement for the establishment of an Israeli company named Rider from the Shagrir Group Ltd. ("Rider") for providing outsourcing services to insurance companies and others. The minority shareholder holds 33% and serves as Rider's CEO.
 
In 2012, Shagrir recorded as part of its general and administrative expenses an impairment loss of the loan granted by Rider to the minority shareholder in the amount of NIS 1.75 million ($489).
 
During 2011, Shagrir signed an agreement to sell its entire holdings in Rider to Native Nehoray Ltd. ("Nehoray") at par value. In addition, Shagrir sold to Nehoray the rights to receive payments from a loan that Shagrir had provided to Rider in the amount of NIS 4,779 thousands including interest and linkage to the Israeli CPI for NIS 1,293 thousands. As a result of the agreement, Shagrir recorded in 2012 a capital loss in the amount of NIS 393 thousands ($ 110).
 
j.
On September 9, 2014, the Company acquired a 100% interest in Global Telematics S.A. Proprietary Limited ("Global Telematics"), a provider of commercial fleet management and vehicle tracking solutions in South Africa.
 
The acquisition-date fair value of the consideration transferred totaled to $ 1 million in cash.
 
The acquisition was accounted for under the purchase method of accounting as determined by ASC Topic 805, "Business Combinations". Accordingly, the purchase price was allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition
 
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date:
 
Working capital, net
 
$
221
 
Property and equipment
 
 
565
 
Other intangible assets
 
 
190
 
Gain from a bargain purchase
 
 
(288
)
 
 
$
688
 
 
The excess of the net tangible and identifiable intangible assets over the purchase price paid was recorded as a gain. The gain has been recognized in the consolidated statement of comprehensive income as other income.
 
k.
Discontinued operations:
 
In November 2011, Shagrir, together with T.M.C Transportation Ltd. ("TMC"), signed an agreement for the establishment of a limited partnership, TMC Systems, LP ("the partnership"). Shagrir hold 51% of the partnership's capital. The activities of TMC transferred to the partnership. The partnership commenced its activity on January 1, 2012.
 
The partnership engages in solutions for the management, control and collection of travel fares from taxis and transportation service fleets. Shagrir granted a shareholders' loan to the partnership in an amount of NIS 2.5 million. This loan carries an annual interest rate of prime plus 4%.
 
During 2012 the partnership recorded Impairment of goodwill and intangible assets related to this operation in the amount of $348.
 
On August 1, 2012, Shagrir signed an agreement to sell the partnership entire share capital to Gastech mobile communication solution LTD ("Gastecg") for its par value. In addition, Shagrir sold the rights to receive payments from a loan which Shagrir had provided to the partnership in the amount of NIS 2.5 million including interest and linkage to the Israeli CPI for NIS 1. As a result the partnership's results presented as loss from discontinued operations on consolidated statement of income and comprehensive income.
 
Below are the results of operations of TMC that presented net as a discontinued operation:
 
 
 
Period ended
August 1,
2012
 
 
 
 
 
Revenues
 
$
3
 
Cost of revenues
 
 
143
 
Gross loss
 
 
(140
)
Operating expenses:
 
 
 
 
Sales and marketing
 
 
60
 
General and administrative
 
 
181
 
Impairment of goodwill and intangible asset
 
 
348
 
Operating  (loss)
 
 
(729
)
 
 
 
 
 
Financial expense, net
 
 
18
 
Net loss
 
$
(747
)
 
As a result of the partnership's sale a capital loss in the amount of $ 248 was recorded in discontinued operation.
 
Cash flows from discontinued operation were immaterial.
 
l.
On November 11, 2011, Shagrir, entered into an agreement to acquire the activities of K.S Operation Centers Ltd. ("K.S") in consideration for an aggregate amount of NIS 12 million, to be paid in two installments. The first installment was paid in January 2012, and the second was paid in January 2013. Shagrir closed the transaction in January 2012.
 
K.S is engaged in the operation of car repair garages, providing bodywork and paint services, as well as engaging in the sale of spare parts for motor vehicles.
 
The acquisition-date fair value of the consideration transferred totaled to $ 3,125 in cash.
 
The acquisition was accounted for under the purchase method of accounting as determined by ASC Topic 805, "Business Combinations". Accordingly, the purchase price was allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition. 
 
m.
In May 2012, the Company established a wholly-owned subsidiary in India, Pointer Telocation India Private Limited.
 
n.
In December 2013, the Company recorded an expense of $403 thousands in other general and administrative expense related to the termination cost of the former CEO's employment with the Company's subsidiary.
 
o.
On September 12, 2013, a shareholders meeting of the Company approved a compensation Policy for the Company's directors and officers. The Compensation Policy includes, among other issues prescribed by the Israeli Companies Law, a framework for establishing the terms of office and employment of the office holders, and guidelines with respect to the structure of the variable pay of office holders. The Compensation Policy includes a compensation, bonus and benefits strategy for office holders which is designed in order to reward performance, maintain a reasonable wage structure throughout the organization and to reinforce a culture in order to promote the long-term success of the Company. 
v2.4.1.9
SIGNIFICANT ACCOUNTING POLICIES
12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]
NOTE 2:-
SIGNIFICANT ACCOUNTING POLICIES
 
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP").
 
a.
Use of estimates:
 
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The most significant assumptions are employed in estimates used in determining values of intangible assets, tax assets and tax liabilities, warranty costs and stock-based compensation costs. Actual results could differ from those estimates.
 
b.
Financial statements in U.S. dollars:
 
The majority of the Company's revenues is generated in or linked to U.S. dollars ("dollar"). In addition, a substantial portion of the Company's costs is incurred in dollars. The Company's management believes that the dollar is the currency of the primary economic environment in which the Company operates. Thus, the functional and reporting currency of the Company is the dollar.
 
For those subsidiaries whose functional currency has been determined to be their local currency (For Pointer Argentina- the Argentinean peso; for Pointer Mexico- the Mexican peso; for Shagrir, Car2Go and Rider - the new Israeli shekel ("NIS"); for Pointer Inc. - the dollar; for Pointer Romania- the ROL; for Pointer do Brazil Comercial Ltda. and Pointer Brazil Holdings- the Brazilian Real), assets and liabilities are translated at year-end exchange rates and statement of operations items are translated at average exchange rates prevailing during the year. Such translation adjustments are recorded as a separate component, other comprehensive income (loss), in shareholders' equity (deficiency).
 
Transactions and balances of the Company and certain subsidiaries, which are denominated in other currencies, have been remeasured into dollars in accordance with principles set forth in ASC 830, "Foreign Currency Matters". All exchange gains and losses from the remeasurements mentioned above, are reflected in the statement of operations as financial expenses or income, as appropriate.
 
c.
Principles of consolidation:
 
The consolidated financial statements include the accounts of the Company and its subsidiaries.
 
Intercompany transactions and balances including profits from intercompany sales not yet realized outside the Company have been eliminated upon consolidation. Changes in the parent's ownership interest in a subsidiary with no change of control are treated as equity transactions, rather than step acquisitions or dilution gains or losses. Losses of partially owned consolidated subsidiaries shall be continued to be allocated to the non-controlling interests even when their investment was already reduced to zero.
 
The Company applies ASC 810-10, "Consolidation", which provides a framework for identifying Variable Interest Entities ("VIEs") and determining when a company should include the assets, liabilities, non-controlling interests and results of activities of a VIE in its consolidated financial statements. According to ASC 810-10, the Company shall consolidate a VIE when it has both (1) the power to direct the economically significant activities of the entity and (2) the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the variable interest entity. The determination as to whether the Company should consolidate a VIE is evaluated continuously as changes to existing relationships or future transactions occur.
 
The Company's assessment of whether an entity is a VIE and the determination of the primary beneficiary is a matter of judgment and involves the use of significant estimates and assumptions. Such assessment involves estimation of whether an entity can finance its current activities until it reaches profitability, without additional subordinated financial support.
 
Pointer Romania is considered to be a VIE. As Shagrir has both the power to direct the economically significant activities of Pointer Romania, and the obligation to absorb losses and the right to receive benefits that could potentially be significant to Pointer
 
Romania, Shagrir is considered to be the primary beneficiary. Pointer Romania is consolidated in the Company's financial statements.
 
d.
Cash equivalents:
 
Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less at the date acquired.
 
e.
Inventories:
 
Inventories are stated at the lower of cost or market value. Cost is determined using the "moving average" cost method. Inventory consists of raw materials, work in process and finished products. Inventory write-offs are provided to cover risks arising from slow-moving items, technological obsolescence, excess inventories, and for market prices lower than cost. In 2014, 2013 and 2012, the Company and its subsidiaries wrote off approximately $194, $102 and $337, respectively. The write-offs are included in cost of revenues.
 
f.
Property and equipment:
 
Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated by the straight-line method over the estimated useful lives of the assets at the following annual rates:
 
 
 
%
 
 
 
 
 
Installed products
 
20-33
 
Computers and electronic equipment
 
10 - 33 (mainly 33)
 
Office furniture and equipment
 
6 - 15
 
Motor vehicles
 
15 - 20 (mainly 20)
 
Network installation
 
10 - 33
 
Buildings
 
6.67
 
Leasehold improvements
 
Over the term of the lease including the option term
 
 
g.
Goodwill:
 
Goodwill reflects the excess of the purchase price of the acquired activities over the fair value of net assets acquired. Pursuant to ASC 350, "Intangibles - Goodwill and Other", goodwill is not amortized but rather tested for impairment at least annually, at the reporting unit level.
 
The Company identified several reporting units based on the guidance of ASC 350.
 
ASC 350 prescribes a two-phase process for impairment testing of goodwill. The first phase screens for impairment, while the second phase (if necessary) measures impairment.
 
Goodwill impairment is deemed to exist if the net book value of a reporting unit exceeds its estimated fair value. In such case, the second phase is then performed, and the Company measures impairment by comparing the carrying amount of the reporting unit's goodwill to the implied fair value of that goodwill. An impairment loss is recognized in an amount equal to the excess.
 
In September 2011, the FASB amended the guidance on the annual testing of goodwill for impairment. The amended guidance will allow companies to assess qualitative factors to determine if it is more likely than not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment test required under current accounting standards. The company didn't apply the qualitative option.
 
Regarding goodwill impairment in 2014, see note 1h.
 
No impairment losses were identified in the years 2012 and 2013. 
 
h.
Identifiable intangible assets:
 
Intangible assets consist of the following: a brand name, customers' related intangibles, developed technology and acquired patents. Intangible assets are amortized over their useful life using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise used up. Intangible assets are stated at amortized cost.
 
The brand names are amortized over a two to nine years period.
The customers' related intangibles are amortized over a five- to nine-year period.
The developed technology is amortized over a five-year period.
Backlog is amortized over a three-year period.
Non-competition agreement is amortized over a three-year period.
Reacquired rights are amortized over a five-month period.
Patents are amortized over an eight-year period.
 
Customer related intangibles are amortized based on the accelerated method. For customer related intangibles in respect with the Brazil transaction during 2013, the Company used the straight line method, the differences from the accelerated method were immaterial. The other intangibles are amortized based on straight line method over the periods above mentioned.
 
i.
Impairment of long-lived assets:
 
The Company's long lived assets are reviewed for impairment in accordance with ASC 360-10-35, "Property, Plant, and Equipment- Subsequent Measurement" whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
 
Impairment losses have been identified as of December 31, 2014 in the amount of $292 regarding ERP and $302 regarding motor vehicle. (See also Note 1b)
 
No impairment losses were identified in 2013 for the continuing operations, as for the discontinued operations see note 1k.
 
j.
Provision for warranty:
 
The Company and its subsidiaries generally grant a one-year to three-year warranty for their products. The Company and its subsidiaries estimate the costs that may be incurred under its basic limited warranty and records a liability in the amount of such costs at the time which product revenue is recognized. Factors that affect the warranty liability include the number of installed units, historical and anticipated rates of warranty claims and cost per claim. The Company and its subsidiaries periodically assess the adequacy of its recorded warranty liabilities and adjust the amounts as necessary. Changes in the Company's and its subsidiaries' product liabilities (which are included in other accounts payable and accrued expenses and other long term liabilities' captions in the Balance Sheet) during 2014 and 2013 are as follows:
 
 
 
Year ended
December 31,
 
 
 
2014
 
 
2013
 
 
 
 
 
 
 
 
Balance, beginning of the year
 
$
766
 
 
$
661
 
Warranties issued during the year
 
 
582
 
 
 
699
 
Settlements made during the year
 
 
(371
 
 
(446
)
Expirations
 
 
(304
)
 
 
(184
)
Foreign currency translation adjustment
 
 
(58
)
 
 
36
 
 
 
 
 
 
 
 
 
 
Balance end of year
 
 $
615
 
 
$
766
 
 
k.
Revenue recognition:
 
The Company and its subsidiaries generate revenues from the provision of services, subscriber fees and sales of systems and products, mainly in respect of road-side assistance services, automobile repair and towing services, stolen vehicle recovery, fleet management and other value added services. To a lesser extent, revenues are also derived from technical support services. The Company and its subsidiaries sell the systems primarily through their direct sales force and indirectly through resellers. Sales consummated by the Company's sales forces and sales to resellers are considered sales to end-users.
 
Revenues from the sale of systems and products are recognized in accordance with Staff Accounting Bulletin ("SAB") No. 104, "Revenue Recognition" ("SAB No. 104"), when delivery has occurred, persuasive evidence of an agreement exists, the vendor's fee is fixed or determinable, no further obligation exists and collectability is reasonably assured.
 
Service revenues including subscriber fees are recognized as services are performed, over the term of the agreement.
 
Deferred revenue includes amounts received under maintenance and support contracts, and amounts received from customers but not yet recognized as revenues.
 
In accordance with ASC 605-25, "Multiple-Element Arrangements", revenue from certain arrangements may include multiple elements within a single contract. The Company's accounting policy complies with the requirements set forth in ASC 605-25, relating to the separation of multiple deliverables into individual accounting units with determinable fair values. The Company considers the sale of products and subscriber fees to be separate units of accounting.
 
When a sales arrangement contains multiple elements, such as hardware and services, the Company allocates revenue to each element based on a selling price hierarchy. The selling price for each deliverable is based on its vendor specific objective evidence ("VSOE"), if available, third party evidence ("TPE") if VSOE is not available, or estimated selling price ("ESP") if neither VSOE nor TPE is available.
 
The company uses ESP to allocate the elements.
 
Revenues from stolen vehicle recovery services are recognized upon success, when the related stolen vehicle is recovered, and such recovery is approved by the customer or ratably over the term of the agreement.
 
Revenues generated from technical support services, installation and de-installation are recognized when such services are rendered.
 
Generally, the Company does not grant rights of return. The Company follows ASC 605-15-25 "sales of product when right of return exists". Based on the Company's experience, no provision for returns was recorded.
 
l.
Research and development costs:
 
Research and development costs are charged to expenses as incurred.
 
m.
Advertising expenses:
 
Advertising expenses are charged to the statement of operations as incurred. Advertising expenses for the years ended December 31, 2014, 2013 and 2012 were $1,302, $1,365 and $1,071, respectively.
 
n.
Income taxes:
 
The Company accounts for income taxes and uncertain tax positions in accordance with ASC 740, "Income Taxes". This guidance prescribes the use of the liability method whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to amounts that are more likely than not to be realized.
 
The Company established reserves for uncertain tax positions based on the evaluation of whether or not the Company's uncertain tax position is "more likely than not" to be sustained upon examination. As of December 31, 2014, the Company did not have any liability for uncertain tax positions. The Company's policy is to recognize, if any, tax related interest as interest expenses and penalties as general and administrative expenses. For the year ended December 31, 2014, the Company did not have any interest and penalties associated with tax positions.
 
o.
Basic and diluted net earnings per share:
 
Basic and diluted net earnings per share are computed based on the weighted average number of ordinary shares outstanding during the year. Diluted net earnings (loss) per share further include the dilutive effect of stock options outstanding during the year, in accordance with ASC 260, "Earnings Per Share". Part of the Company's outstanding stock options and warrants has been excluded from the calculation of the diluted earnings (loss) per share because such securities are anti-dilutive. The total weighted average number of pointer shares related to the outstanding options and warrants excluded from the calculations of diluted earnings (loss) per share was 0, 0 and 0 and for the years ended December 31, 2014, 2013 and 2012, respectively.
 
p.
Accounting for stock-based compensation:
 
The Company applies ASC 718, "Compensation - Stock Compensation". In accordance with ASC 718, all grants of employee equity based stock options are recognized in the financial statements based on their grant date fair values. The fair value of graded vesting options, as measured at the date of grant, is charged to expenses, based on the accelerated
attribution method over the requisite service period of each of the awards, net of estimated forfeitures.
 
As required by ASC 718, forfeitures are estimated at the time of grant, based on actual historical pre-vesting forfeitures, and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates.
 
During the years ended December 31, 2014, 2013 and 2012, the Company recognized stock-based compensation expenses related to employee stock options in the amounts of $375, $374 and $265, respectively.
 
According to ASC 718, a change in any of the terms or conditions of the Company's stock options is accounted for as a modification. Therefore, if the terms of an award are modified, the Company calculates incremental compensation costs as the excess of the fair value of the modified option over the fair value of the original option immediately before its terms are modified, measured based on the share price and other pertinent factors existing at the modification date. For vested options, the Company recognizes any incremental compensation cost immediately in the period the modification occurs, whereas for unvested options, the Company recognizes, over the new requisite service period, any incremental compensation cost due to the modification and any remaining unrecognized compensation cost for the original award over its term.
 
q.
Data related to options to purchase the Company shares:
 
1.
The fair value of the Company's stock options granted to employees and directors for the years ended December 31, 2014, 2013 and 2012 was estimated using the Black-Scholes-Merton option-pricing model, with the following weighted average assumptions:
 
 
 
Year ended
December 31,
 
 
 
2014
 
 
2013
 
 
2012
 
 
 
 
 
 
 
 
 
 
 
Risk free interest rate
 
 
1.49%-2.39%
 
 
 
0.56%-1.31%
 
 
 
-
 
Dividend yield
 
 
0%
 
 
 
0%
 
 
 
-
 
Expected volatility
 
 
50.14%-57.89%
 
 
 
44.75%-49.48%
 
 
 
-
 
Expected term (in years)
 
 
3.92-5.5
 
 
 
2.63-4.5
 
 
 
-
 
Forfeiture rate
 
 
2%
 
 
 
2%
 
 
 
-
 
 
The Black-Scholes-Merton option-pricing model requires a number of assumptions, of which the most significant are expected stock price volatility and the expected option term. Expected volatility was calculated based upon actual historical stock price movements. The expected option term represents the period that the Company's stock options are expected to be outstanding and was determined for plain vanilla options, based on the simplified method permitted by SAB 107 and extended by SAB 110 as the average of the vesting period and the contractual term.
 
The Company adopted SAB 110 and continues to apply the simplified method until enough historical experience is available to provide a reasonable estimate of the expected term for stock option grants. In a few limited cases the Company did not use the simplified method in measuring the fair value of modified awards, either when the options were deeply out of the money immediately before the modification or when the Company accelerated the vesting and extended the exercise period after an employee's resignation. Since in both instances the entire remaining contractual term of the options was relatively short, we assumed that the expected life to be the entire remaining contractual term.
 
The risk-free interest rate is based on the yield from U.S. Treasury bill with accordance to the expected term of the options.
 
The Company has historically not paid dividends and has no foreseeable plans to pay dividends and therefore uses an expected dividend yield of zero in the option pricing model. The Company is required to estimate forfeitures at the time of grant and revise those estimates in subsequent periods if actual forfeitures differ from those estimates. The Company uses historical data to estimate pre-vesting option forfeitures and record share-based compensation expense only for those awards that are expected to vest.
 
2.
Data related to options to purchase Shagrir shares:
 
In January 2012, 2,480 options were exercised, thereby diluting the Company's holding to approximately 54.48% of the issued and outstanding share capital of Shagrir. There currently remain no exercisable options to purchase ordinary shares of Shagrir. The capital contribution from shareholders in the amount of $(323) presented in the Additional paid in capital.
 
On January 15, 2014, the Company acquired the 45.5% interest in Shagrir Systems Ltd. ("Shagrir") that it did not previously own. The Company now own 100% of the fully consolidated share capital of Shagrir (see note 21a).
 
r.
Severance pay:
 
The liability of the Company and its subsidiaries in Israel for severance pay is calculated pursuant to Israel's Severance Pay Law based on the most recent salary of the employees multiplied by the number of years of employment as of balance sheet date and are presented on an undiscounted basis (the "Shut Down Method"). Employees are entitled to one month's salary for each year of employment, or a portion thereof. The liability for the Company and its subsidiaries in Israel is fully provided by monthly deposits with insurance policies and by accrual. The value of these policies is recorded as an asset in the Company's balance sheet.
 
The deposited funds may be withdrawn only upon the fulfillment of the obligation pursuant to Israel's Severance Pay Law or labor agreements. The value of the deposited funds is based on the cash surrendered value of these policies, and includes profits or losses accumulated to balance sheet date.
 
Some of the company's employees are subject to Section 14 of the Severance Pay Law and the General Approval of the Labor Minister dated June 30, 1998, issued in accordance to the said Section 14, mandating that upon termination of such employees' employment, all the amounts accrued in their insurance policies shall be released to them. The severance pay liabilities and deposits covered by these plans are not reflected in the balance sheet as the severance pay risks have been irrevocably transferred to the severance funds.
 
Severance pay expenses for the years ended December 31, 2014, 2013 and 2012 were $438, $1,150 and $952, respectively.
 
s.
Concentrations of credit risk:
 
Financial instruments that potentially subject the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, trade receivables, trade payables and derivatives.
 
The Company's cash and cash equivalents are invested primarily in deposits with major banks worldwide, mainly in Israel. However, deposits in the U.S. may be in excess of insured limits and are not insured in other jurisdictions. Generally, these deposits may be redeemed upon demand and, therefore, bear low risk. Management believes that the financial institutions that hold the Company's investments have a high credit rating.
 
The Company's trade receivables include amounts billed to clients located mainly in Israel, Latin America and Europe. Management periodically evaluates the collectability of its trade receivables to reflect the amounts estimated to be collectible. An allowance is determined in respect of specific debts whose collection, in management's opinion, is doubtful. In 2014, 2013 and 2012, the Company recorded expenses in respect of such debts in the amount of $452, $412 and $209, respectively. As for major customers, see Note 19d.
 
Changes in the allowance for doubtful accounts during 2014 and 2013 are as follows:
 
 
 
Year ended December 31,
 
 
 
2014
 
2013
 
 
 
 
 
 
 
 
 
Balance at beginning of the year
 
$
1,270
 
$
935
 
First time consolidation of Subsidiary
 
 
69
 
 
263
 
Deductions during the year
 
 
(216)
 
 
(364)
 
Charged to expenses
 
 
452
 
 
412
 
Foreign currency translation adjustment
 
 
(158)
 
 
24