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

  • 60% of new cars globally will feature connected car solutions by 2017
    July 4, 2012
    New findings from ABI Research predict that global OEM connected car system penetration will increase from 11.4 per cent in 2012 to 60.1 per cent in 2017. While penetration in the US and Western Europe will exceed 80 per cent by 2017, developing regions such as Latin America and Eastern Europe will also see strong increases in telematics penetration in new vehicles, largely driven by mandates in Brazil and Russia.
    Read More
  • Report analyses multiple ITS projects to highlight cost and benefits
    March 16, 2015
    Every year in America cost benefit analysis is carried out on dozens of ITS installations and pilot studies and the findings, along with the lessons learned, are entered into the Department of Transportation’s (USDOT’s) web-based ITS Knowledge Resources database. This database holds more than 1,600 reports and periodically the USDOT reviews the material on file to draw conclusions from this wider body of evidence. It has just published one such review ITS Benefits, Costs, and Lessons Learned: 2014 Update Re
    Read More
  • Europe fastest growing region for ITS, says report
    April 15, 2016
    According to Technavio’s latest report, the global intelligent transport systems (ITS) market is expected to exceed US$58 billion by 2020, growing at a CAGR of over eight per cent during the forecast period. The global ITS market is expected to grow moderately during the forecast period. The major customer segments of ITSs are public departments, municipal corporations, government organizations, car and truck leasing companies, and construction firms. “These systems help make traffic and fleet manag
    Read More
  • Global ADAS market is expected to reach US$60.14 billion by 2020
    May 13, 2015
    A new report from Allied Market Research, Global Advanced Driver Assistance Systems Market Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020 claims the global advanced driver assistance systems (ADAS) market will reach US$60.14 billion by 2020, registering a CAGR of 22.8 per cent during 2014-2020. According to the report, the deployment of sensors in vehicles has brought a massive transformation in the automotive industry by providing improved passenger experience and safet
    Read More

Highlighted Content