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

  • Global automotive cyber security market to be ‘worth US$31.8 million by 2021’
    July 12, 2016
    A new report from MarketsandMarkets projects the global automotive security market to grow at a CAGR of 13.3 per cent between 2016 and 2021, reaching a market size of US$31.8 million by 2021. According to the report, Automotive Cyber Security Market by Security Type, the major factors behind the growth of the global automotive cyber security market are the growing connected cars being introduced from OEMs and rising security concerns among end-users.
    Read More
  • EU triples funding for rail innovation
    December 18, 2013
    The European Commission has adopted Shift2Rail, a new public-private partnership to invest around US$1.3 billion in research and innovation to get more passengers and freight onto Europe's railways. Rail is amongst the most efficient and climate-friendly forms of transport, but currently it only carries about only 10 per cent of European cargo and 6 per cent of passengers each year. Shift2Rail is an ambitious public-private partnership which will manage a seven-year work programme of targeted research an
    Read More
  • US toll roads stable for 2014, says Fitch
    December 18, 2013
    Within a broader review of US transport infrastructure securities, including ports and airlines, Fitch Rating analysts say the recent slow growth in aggregate traffic is likely to continue but that many established toll roads look financially solid because of their pricing power - tolls that have been well below revenue maximising levels. Their pricing power has been somewhat reduced, Fitch says, by strong increases in toll rates on many toll roads, which mean they have less scope for big increases in to
    Read More
  • Hearing highlights economic importance of transportation system
    February 18, 2013
    The US Committee on Transportation and Infrastructure’s first hearing of the 113th Congress focused on the importance of infrastructure to the US economy and examined the role played by the Federal Government in ensuring safe, efficient, and reliable infrastructure. Chairman Bill Shuster highlighted how the quality of the nation’s infrastructure affects the lives of Americans in many ways on a daily basis, and how the Federal role in ensuring a strong transportation network is firmly rooted in the first day
    Read More

Highlighted Content