Q-Free reports a positive third quarter

profitability in the third quarter. Revenue increased 10 per cent to US$28.6 million, with operating profit of US$8.4 million and a profit before tax of US$1.2 million. This compares to a negative operating result of US$3.9 million and a loss before tax of US$3.7 million in the third quarter 2012. Q-Free has also strengthened its efforts in advanced transportation management systems (ATMS) through an investment in the American traffic management company Intelight in Tucson, Arizona, and acquisition of th
October 31, 2013 Read time: 2 mins
108 Q-Free reports significant growth in product demand over the First two quarters of 2013 and a clear improvement in underlying profitability in the third quarter. Revenue increased 10 per cent to US$28.6 million, with operating profit of US$8.4 million and a profit before tax of US$1.2 million. This compares to a negative operating result of US$3.9 million and a loss before tax of US$3.7 million in the third quarter 2012.

Q-Free has also strengthened its efforts in advanced transportation management systems (ATMS) through an investment in the American traffic management company Intelight in Tucson, Arizona, and acquisition of the Serbian traffic management company Elcom.
A new contract with the Miami-Dade Expressway Authority (MDX) marked a breakthrough in the US and, together with a service and maintenance contract in Stockholm and the extension of a contract with the Norwegian Public Roads Administration related to central system services, made up the largest contracts in the period.

Q-Free expects a continued positive long-term market development, although a tough economic climate generates political and financial challenges in some of the main markets and delays the realisation of a large market potential. Important progress has been made in new markets, in particular in Asia, although the process of commercialising the business opportunities demands much resources in terms of time and effort.
Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • Don’t look at the jigsaw pieces – see the whole puzzle, says CCTA
    February 19, 2024
    There are three main barriers to taking transport ideas from the pilot stage to real-life usage: incompatible technology, local control and limited funding. Tim Haile of California’s Contra Costa Transportation Authority has some thoughts on how to overcome them
    Read More
  • Road user charging comes a step closer in Oregon
    December 19, 2017
    Having been the first US state to introduce the gas tax a century ago, Oregon is now blazing the road user charging trail. Colin Sowman looks at progress to date. For more than a decade, authorities in Oregon have known of the impending decline in fuels tax income and while revenue increased by more than 5% in 2016, that growth will slow considerably this year and income is projected to start declining in 2020.
    Read More
  • Co-operative infrastructure reduces congestion, increases safety
    January 30, 2012
    ITS Japan's Chairman Hiroyuki Watanabe talks to ITS International about his country's progress with cooperative infrastructures and how the experience gained to date can benefit similar initiatives elsewhere. Japan gave the rest of the world a taste of the cooperative infrastructure future when, in 1996, it went live with the Vehicle Information and Communication System (VICS). Designed to provide real-time traffic information and alerts to in-vehicle navigation systems with the dual aims of increasing safe
    Read More
  • LCRS members leading the way in reducing emissions
    May 18, 2015
    According to the FTA Logistics Carbon Review 2015, Logistics Carbon Reduction Scheme (LCRS) members are leading the way in making significant progress in reducing carbon emissions – compared to the rest of the logistics industry. Released at the Freight Transport Association’s annual Logistics Carbon Reduction Conference last week, the report incorporates the fifth annual results of the LCRS and reveals that the freight industry is contributing to national climate change reduction targets. Rachael
    Read More

Highlighted Content