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 Urban Traffic Control

Related Content

  • August 9, 2013
    Basler confirms growth strategy, increases annual forecast
    Industrial camera manufacturer Basler has presented its figures for the first half of 2013, showing an increase in orders of 16 per cent to US$45.5 million from US$38.4 million for the same period in 2012. The group's sales of US$43 million were 28 per cent above the previous year of US$33.7 million. Earnings before tax (EBT) rose by 77 per cent to US$5.2 million over 2012’s figure of US$ 2.9 million. "The robust incoming orders, the smooth introduction into the market of important new products, and the p
    Read More
  • March 12, 2012
    Telvent relocates and takes a global stance on ITS
    Telvent's Manuel Sanchez Ortega, on relocating the company's headquarters to the US and how that fits in the international scheme of things. The change-of-address cards are in the post; Manuel Sanchez Ortega has just moved homes. The domestic upheaval of Telvent's Chairman and Chief Executive comes as a result of the decision to relocate many of the company's headquarter functions from Madrid to Rockville, Maryland in the US. Viewed in the context of its significant recent acquisitions in North America - am
    Read More
  • February 3, 2012
    IRD wins three tolling contracts in India
    IRDSA (IRD South Asia), the wholly-owned subsidiary of International Road Dynamics (IRD) has signed three tolling contracts in India with a total value of over US$1.5 million.
    Read More
  • June 17, 2015
    Iteris increases revenue in fiscal year 2015
    Iteris has reported record revenue for fiscal year 2015 and significant progress on strategic initiatives. Total revenues for the year have increased by six per cent over 2014 to US$72.3 million, while total gross margin improved to 39 per cent. Revenue for roadway sensors revenues has increased by 15 per cent to US$36.4 million.
    Read More

Highlighted Content