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

For more information on companies in this article

Related Content

  • Eurosmart: nearly one billion contactless smartcards shipped in 2013
    November 18, 2013
    The global desire for solutions which combine convenience and security shows absolutely no sign of stopping, according to Eurosmart, the acknowledged voice of the smart security industry Revealing some dramatic figures at the opening of CARTES 2013 today, Eurosmart estimates that 7.2 billion Smart Secure Devices will be shipped by the end of this year, with that number growing by 7% to more 7.7 billion units in 2014.
    Read More
  • ITF releases projections for modal shares, emissions
    December 4, 2014
    New projections, released today by the International Transport Forum (ITF) at the OECD during the COP20 climate change negotiations in Lima, Peru, highlight a critical choice for policy makers: whether to pursue urbanisation based on public transport or on private transport with cars and two-wheelers. Big cities in China, India and Latin America with over 500,000 inhabitants will more than double their share of world passenger transport emissions by 2050 to 20 per cent (2010: 9 per cent), if current urba
    Read More
  • The growth of ITS service solutions providers
    July 26, 2012
    Econolite's new subsidiary Aegis ITS has been set up to address the increasingly complex and exacting needs of agencies in the ITS sector. Chief Operating Officer Doug Terry talks about the evolution to service solution provider. A few very notable and honourable exceptions notwithstanding, it is these days becoming increasingly rare to find a public agency which develops its own traffic management systems. Indeed, most now rely on specialist manufacturers and suppliers to fulfil their needs. This has the h
    Read More
  • IRD customised weight enforcement system goes live in Spokane
    June 14, 2012
    International Road Dynamics (IRD) has been working with the Washington State Patrol (WSP) and the Washington State Department of Transportation (WSDOT) to support delivery of a customised weight enforcement and commercial vehicle inspection solution which integrates vehicle identification, credential screening and data collection for the Spokane Port-of-Entry (POE) Weigh Station on I-90. Yesterday, the station’s grand opening was held at the POE which is located on Interstate 90 one mile west of the Washing
    Read More

Highlighted Content