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

  • Serco extends transport contracts in Hong Kong
    June 7, 2013
    UK group Serco has won the contract to operate and maintain toll roads in Hong Kong as it looks to push further into the transport sector. Beginning in September, the contract is worth US$123 million over a minimum six-year base period to manage, operate and maintain the Tsing Sha Control Area of toll roads. Serco has been contracted to engage in toll collection, controlling and regulating traffic, vehicle recovery and rescue, patrols and handling of incidents. The contract also covers scheduled works inclu
    Read More
  • Open communication platform to support cooperative infrastructure
    July 23, 2012
    Within the European Commission's CVIS project, work is going on to shrink the open vehicle communication platform to make it more market-ready and to remove barriers to the creation of appropriate applications by those external to the project. Here, ERTICO's Zeljko Jeftic and Paul Kompfner and Q-Free's Knut Evensen discuss progress. Development of the open communication platform which will support the various applications developed by the European Commission's (EC's) Cooperative Vehicle-Infrastructure Syste
    Read More
  • Priority for safety and interoperability, need for DSRC
    July 18, 2012
    Justin McNew, Chief Technology Officer, Kapsch TrafficCom Inc., USA offers his opinion of where 5.9GHz DSRC technology will head in the coming years. The debate ranges back and forth over the most suitable technological solution for future tolling and charging in the US. However, the coming trend is common cooperative infrastructure: instrumented roads and vehicles with the capacity to communicate with each other over all manner of safety, mobility and traveller applications, many of which will involve fina
    Read More
  • Virginia DOT extends Q-Free ATMS contract
    September 29, 2015
    Q-Free Open Roads has been awarded a US$1.8 million one-year extension to its contract with the Virginia Department of Transportation for the supply of transportation operations technology support services and maintenance of the Open TMS advanced transport management systems (ATMS) system. “We are pleased to receive this extension order for technology service, support and maintenance of the Q-Free Open Roads ATMS in Virginia. This continues our strong relationship with the Virginia Department of Transpor
    Read More

Highlighted Content