Strong first quarter 2014 for IRD

International Road Dynamics (IRD), Canada-based intelligent transportation systems (ITS) supplier, has announced solid growth for the three months ended February 28, 2014. Revenue increased by 32.2 per cent to $10.3 million compared to $7.8 million for the same quarter last year. Solid growth was achieved in the Company's Canada and United States and Latin America markets, while EBITDA increased to $490,090 compared to a loss of $190,359 in the first quarter of 2013. Quarter one of 2014 is the fourth con
April 16, 2014 Read time: 2 mins
69 International Road Dynamics (IRD), Canada-based intelligent transportation systems (ITS) supplier, has announced solid growth for the three months ended February 28, 2014.

Revenue increased by 32.2 per cent to $10.3 million compared to $7.8 million for the same quarter last year. Solid growth was achieved in the Company's Canada and United States and Latin America markets, while EBITDA increased to $490,090 compared to a loss of $190,359 in the first quarter of 2013. Quarter one of 2014 is the fourth consecutive quarter of profitability and year over year improvement in quarterly results and the company is in a strong financial position with positive working capital of $8.1 million, up 5 per cent from prior year end.

XPCT in China contributes earnings of $118,097 on growth in its wire harness and traffic business compared to a loss of $3,899 the first quarter of 2013.

"After much improved performance in fiscal 2013, we were pleased to see the momentum continue in the first quarter of the New Year with increased revenues and net income," commented Terry Bergan, IRD president and CEO. "We are generating solid growth in the majority of our target global markets and product lines, and look for this progress to continue through the rest of the year."
Detection, Monitoring & Machine Vision Classification & Data Collection Urban Traffic Control

Related Content

  • Cycling in London grows by ten per cent
    February 2, 2015
    London’s cycling revolution accelerated last year, with 2014 seeing new records for usage of the capital’s cycle hire scheme and overall cycling on the Transport for London (TfL) road network. Across the TfL road network, London’s main roads, cycling levels in quarter 3 of 2014/15 (14 September to 6 December) were ten per cent higher than in the same quarter the previous year and the highest since records began in 2000. It was the fifth record quarter in a row. By the end of 2014/15, TfL forecasts a 12 p
    Read More
  • ARTBA proposes path to breaking gridlock on transportation funding
    March 13, 2015
    The American Road & Transportation Builders Association (ARTBA) has outlined a detailed proposal it believes could end the political impasse over how to fund future federal investments in state highway, bridge and transit capital projects. The ‘Getting beyond gridlock’ plan would marry a 15 cents-per-gallon increase in the federal gas and diesel motor fuels tax with a 100 per cent offsetting federal tax rebate for middle and lower income Americans for six years. The plan, ARTBA says, would fund a US$401 bil
    Read More
  • LA solar powered parking meters boosts city’s revenues
    March 2, 2012
    IPS Group, a San Diego-based high-tech parking meter company, has announced the completion of the installation of 10,000 new coin and credit-card parking meters throughout the city of Los Angeles.
    Read More
  • TomTom traffic index shows increase in UK congestion
    April 1, 2015
    TomTom’s today 5th annual Traffic Index, the barometer of traffic congestion in over 200 cities worldwide, reveals rising congestion levels around the globe In addition, for the first time, the Index took an in-depth look at the true impact of rush hour traffic on the work week, uncovering that evening rush hour nearly doubles the journey time for car commuters. The analysis of 12 trillion pieces of traffic data worldwide revealed that the evening rush hour is the most congested time of day. Traffic co
    Read More

Highlighted Content