Solid growth and improved profitability for IRD in 2013

International Road Dynamics (IRD) has announced solid growth for the three months and year ended 30 November 2013, with revenue up 14.7 per cent in the fourth quarter and 5.0 per cent for the year. The company says increasing service revenue contributed to improved profitability and stability of cash flows, while its China XPCT investment contributed strong earnings in the fourth quarter and the year. Revenue in the fourth quarter of fiscal 2013 rose 14.7 per cent to US$12.6 million compared to US$11.0 m
February 28, 2014 Read time: 2 mins
69 International Road Dynamics (IRD) has announced solid growth for the three months and year ended 30 November 2013, with revenue up 14.7 per cent in the fourth quarter and 5.0 per cent for the year.

The company says increasing service revenue contributed to improved profitability and stability of cash flows, while its China XPCT investment contributed strong earnings in the fourth quarter and the year. Revenue in the fourth quarter of fiscal 2013 rose 14.7 per cent to US$12.6 million compared to US$11.0 million for the same period last year. For the year ended 30 November 30 revenue was US$43.6 million compared to US$41.6 million in 2012.
 
"After a slow start to the year, business in the majority of our geographic markets recovered strongly, resulting in three consecutive quarters of solid revenue growth in 2013, improved profit margins, and increased net earnings," commented Terry Bergan, president and CEO. "Our North and Latin American operations led our growth with 11.3% and 31.8% increases in revenue, respectively. We are also pleased to see a very solid and increased contribution from our 50 per cent equity interest in our Chinese operation XPCT for the year."

Bergan continued: "Looking ahead, we believe our growth and improved profitability will continue, driven by strengthening demand for our product offerings in the majority of our markets, and we look for another year of solid performance in 2014."
Detection, Monitoring & Machine Vision Classification & Data Collection UTC

Related Content

  • July 16, 2015
    IRD announces continued growth in second quarter 2015
    International Road Dynamics has announced solid growth in the three and six months ended 31 May 2015, with increased revenue on strong growth in key geographic markets and product segments For the three and six months ended 31 May, consolidated revenue increased 12.2 per cent and 8.1 per cent respectively, compared to the same period s in 2014, due primarily to continued growth in the Company's Canada, United States, Latin America and Mexico markets, as well as an increase in the value of the US dollar.
    Read More
  • February 23, 2016
    IRD announces ‘record results’ for fiscal 2015
    International Road Dynamics (IRD has announced record financial and operating results for the three and twelve months ended 30 November 2015. The company saw net earnings increased 85 per cent to US$1.8 (CA$2.5) million, with revenue up 29 per cent to US$42 (CA$58) million on growth in key geographic markets and product segments. EBITDA rose by 58 per cent on revenue growth and strong gross margin. "We generated record results in fiscal 2015, the result of strong growth in all of our major markets a
    Read More
  • October 14, 2016
    IRD announces strong third quarter, launches new products
    Intelligent transportation systems provider International Road Dynamics (IRD) has announced solid financial results for the third quarter of 2016, with revenues up 16.0 per cent to US$36.6 million (CA$48.4 million) on growth in key North American markets and an increase in gross margin to 32.5 per cent. Nett earnings increased 27.5 per cent to US$1.6 million (CA$2.2 million). The company says it is in a strong financial position with working capital of US$10 million ($13.3 million). According to Terry Be
    Read More
  • September 4, 2014
    Iteris reports strong 2014 growth
    Iteris has reported financial results for its fiscal fourth quarter and full year ended31 March 2014, indicating total revenues in the fourth quarter of 2014 increased 11 per cent to US$17.6 million compared to US$15.9 million in the same quarter last year. This was primarily driven by a 25 per cent increase in roadway sensors. iPerform revenues were also up 14 per cent, while transportation systems revenues were down one per cent. Total revenues in 2014 increased 11 per cent to US$68.2 million compared to
    Read More

Highlighted Content