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

For more information on companies in this article

Related Content

  • US FY 2016 budget invests heavily in ITS, infrastructure
    February 3, 2015
    Announcing President Obama’s US$94.7 billion Fiscal Year 2016 budget for the US Department of Transportation, Transportation Secretary Anthony Foxx said, “Our budget proposal lays the foundation for a future where our transportation infrastructure meets the demands of a growing population and an economy that depends on the free flow of freight,” said Secretary Foxx. “This Administration is looking towards the horizon – the future – but to do this we need Congress’ partnership to pass a long-term reauthorisa
    Read More
  • Measuring vehicle lengths with a single loop - promising results
    July 27, 2012
    District 7 of Caltrans has been conducting trials to see whether the use of a single inductive loop to measure vehicle lengths and so identify heavy trucks is feasible. So far, the results have been very promising, according to Lead Transportation Engineer Steve Malkson. Between them, the adjoining ports of Los Angeles and Long Beach, the US's two biggest, cover some 10,700 acres (43km2) and 68 miles (109km) of waterfront.
    Read More
  • Imtech issues significant announcements
    June 19, 2013
    Following the recent announcement of its agreement with its main financiers, Dutch company Royal Imtech has published a series of significant announcements, including: Report to Shareholders on Investigations; Audited annual report, which confirms preliminary results; First Quarter results; New Supervisory Board members; and extensions to the Board of Management. The Report to Shareholders provides a comprehensive overview of the irregularities, their impact and related corrective actions. The investigatio
    Read More
  • Controller interface needs less space
    May 30, 2014
    Radar traffic detection and monitoring specialist Wavetronics has released its Click 50 traffic cabinet device which provides up to 64 channels worth of data. The device allows SmartSensor Advance and SmartSensor Matrix to communicate directly to the traffic controller, effectively replacing up to 16 four-channel or 32 two-channel rack cards with a small box measuring 19.8 x 26.2 x 9.9cm (7.8 x 10.3 x 3.9in). Click 650 can eliminate the need for rack cards and back plates while enabling intersection app
    Read More

Highlighted Content