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

  • European car manufacturers face world’s toughest CO2 targets
    July 12, 2012
    Following the adoption yesterday of the European Commission's proposals to reduce CO2 emissions from cars and vans, the European Automobile Manufacturers' Association (ACEA) says it will now work with its members to conduct a full analysis of how the proposed targets should be reached as well as their feasibility, and what this means in practice for the industry as a whole.
    Read More
  • New report on rising global vehicle production
    September 12, 2012
    New research conducted by the Worldwatch Institute for its Vital Signs Online service indicates that production of passenger vehicles (cars and light trucks) rose from 74.4 million in 2010 to 76.8 million in 2011, and 2012 may bring an all-time high of 80 million or more vehicles. Global sales of passenger vehicles increased from 75.4 million to 78.6 million over the same period, with a projected 81.8 million in 2012. The major driver of increased production and sales are the so-called emerging economies, e
    Read More
  • Half of top OEMs work on LiDAR technology for ADAS
    October 13, 2015
    Light detection and ranging (LiDAR) technology, as part of an advanced driver assistance system (ADAS) sensor suite, will be mostly deployed for active safety functions with only 29 per cent fitted for fully automated driving purposes by 2021, according to Frost & Sullivan. Out of the top 13 original equipment manufacturers (OEMs), seven are working on automated driving passenger vehicles using a LiDAR. Frost & Sullivan’s latest analysis, LIDAR-based Strategies for Active Safety and Automated Driving from M
    Read More
  • New riders get onboard the metabustrip
    October 5, 2016
    Bus travel booking is moving into the digital age as David Crawford discovers. A global surge in demand for intercity bus travel is fuelling new initiatives to make it easier for passengers to access information and book via the web by, fo example, using multi-sourced metasearch engines
    Read More

Highlighted Content