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

  • February 13, 2014
    Q-Free to supply toll tags to Thailand
    The Expressway Authorities of Thailand (EXAT), which constructs, maintains, and manages the country's expressways and public transportation infrastructure, has placed a US$5.6 million order with Q-Free for delivery of tags. The order will be delivered between now and the end of the second quarter 2014. “This significant order is further positioning Q-Free as a major supplier of products to the fast growing tolling market in Thailand. New road infrastructure creates demands for further tolling systems and
    Read More
  • August 8, 2018
    Vicat net profit up nearly 60%
    French cement, concrete and aggregates group Vicat posted a 59.4% increase in net income for the first half of 2018. Net income in H1 totalled €59million, compared with €40mn for H2 2017. Vicat says the solid performance was helped by growth in Turkey, the United States, France and Kazakhstan. Consolidated sales in H1 2018 totalled €1,281mn, up 2.7% on the same period of 2017. In H1 the cement business posted a 9.7% increase in operational sales at constant scope and exchange rates and a 1.3% increase on
    Read More
  • April 20, 2017
    WiLAN to acquire International Road Dynamics
    Canadian patent licensing company WiLAN is to acquire intelligent transportation systems (ITS) supplier International Road Dynamics for an equity value of approximately US $47.4 million (CA$63.5 million). The acquisition is part of WiLAN’s growth strategy which will see it operate under the Quarterhill name from around the beginning of June 2017.
    Read More
  • March 21, 2014
    Strong 2013 results for u-blox
    Wireless communications provider u-blox has announced strong top and bottom line growth in its financial report for 2013. Consolidated revenue US$249 million, a growth of 27.0 per cent compared to 2012; gross profit improved from US$92 million to US$1.2 million, with a continued good profit margin of 36 per cent; operating profit (EBIT) increased from US$25.99 million to US$34.1 million, a growth of 30.9 per cent compared to 2012; net profit increased by 44.3 per cent from US$19.3 million to US$27.8 mill
    Read More

Highlighted Content