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

  • Kistler Group plans further growth through innovation
    February 3, 2016
    With sales of US$341 million in 2015, the Switzerland-based Kistler Group overcame currency-related challenges to achieve continued growth and create some 120 new jobs around the world. The dynamic measuring technology manufacturer plans targeted investments in R&D during 2016 in order to develop innovative products and application-specific services. Kistler intends to expand its service offering by continuing to introduce application-specific service products until 2020. Innovative products will be ad
    Read More
  • Wider uses for weigh in motion data
    March 18, 2014
    Colin Sowman talks to Terry Bergan of International Road Dynamics about the latest uses of weigh-in-motion systems. Raising allowable truck weight limits improve transport efficiency but leaves an ever-increasing number of bridges vulnerable to being overloaded and damaged by vehicles heavier, and in some cases far heavier, than they were designed to carry. The simplistic solution is to impose weight restrictions and erect appropriate signs - but this could have severe knock-on effect on trucking operations
    Read More
  • Visteon to sell its automotive lighting business to Varroc Group of India
    March 22, 2012
    Visteon Corporation has announced that it has agreed to sell its automotive lighting business to Varroc Group, a global provider of automotive parts headquartered in India, for US$92 million in cash. The transaction, which is subject to regulatory reviews and other conditions, is expected to be completed in the third quarter of 2012. The business to be sold encompasses a wide range of exterior lighting products supplied to global vehicle manufacturers, including front and rear lighting systems, auxiliary la
    Read More
  • US ushers in reforms with new transportation bill
    November 9, 2012
    On behalf of ITS America, Paul Feenstra maps out implications and opportunities for the ITS industry. A critical milestone was reached last month when the US Congress passed, and President Obama signed, legislation reauthorising the nation’s surface transportation programmes, breaking a nearly three-year log-jam which had stymied critical transportation reforms and delayed much-needed infrastructure projects. The law, numbered P.L. 112-141 but known as MAP-21 (Moving Ahead for Progress in the 21st Century),
    Read More

Highlighted Content