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

  • Infrastructure spending is an investment in economic recovery
    January 20, 2012
    Transportation funding is caught in the crossfire as the President calls for infrastructure investment and a reinvigorated Republican majority in the House pushes back on federal spending. Andrew Bardin Williams reports. Every few months some politician or pundit declares that the country is on the verge of making the most important political decision in a generation. The 2006 mid-term election; the 2008 Presidential election; the passing of the stimulus bill; healthcare reform; the mania surrounding Tea Pa
    Read More
  • Moody’s projects positive 2017 outlook for US toll roads industry
    December 2, 2016
    The outlook for the US toll road industry remains positive, reflecting the expectation of continued strong traffic and revenue growth in the next 12 to 18 months, according to Moody’s Investors Service in its yearly outlook, Tolls Roads – US: 2017 Outlook – Strong Traffic and Revenue Growth Support Positive Outlook. Moody’s estimates that median traffic growth among 48 rated toll roads will range from three per cent to four per cent in the remainder of 2016 and into 2017, and that median toll revenue wil
    Read More
  • Agencies in pursuit of high-speed WIM accuracy
    April 20, 2017
    Alan Dron looks at where WIM is heading in the near future. As Weigh-In-Motion (WIM) systems grow in sophistication and accuracy, they are increasingly being used in more active roles to help ensure road safety through enforcement action against overweight vehicles.
    Read More
  • Kapsch TrafficCom strengthens presence in Mexico
    August 6, 2012
    Austria-headquartered Kapsch TrafficCom has announced that its subsidiary, Kapsch TrafficCom Canada (KTCC), has made a significant investment in Simex, Integracion de Sistemas, a Mexican systems integration company with 28 years of experience in the Mexican market in the fields of automation and control, toll collection, security and parking systems.
    Read More

Highlighted Content