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

  • Ouster & Velodyne complete merger
    February 13, 2023
    Ouster name kept in combined company's "merger of equals" creating "Lidar powerhouse"
    Read More
  • ITF releases projections for modal shares, emissions
    December 4, 2014
    New projections, released today by the International Transport Forum (ITF) at the OECD during the COP20 climate change negotiations in Lima, Peru, highlight a critical choice for policy makers: whether to pursue urbanisation based on public transport or on private transport with cars and two-wheelers. Big cities in China, India and Latin America with over 500,000 inhabitants will more than double their share of world passenger transport emissions by 2050 to 20 per cent (2010: 9 per cent), if current urba
    Read More
  • Tolling systems - interoperability is key
    January 25, 2012
    Is US tolling as fragmented and divided as some would have you believe? And are the technology suppliers so very entrenched? ITS International spoke to the market's leading suppliers. A few years back, the prevalent view was that the North American tolling market was characterised by fragmented, proprietary solutions, each existing in splendid isolation. The reality is that a combination of pragmatism and good old market forces have seen some concerted moves made towards interoperability in many areas.
    Read More
  • Montreal to become city of electro-mobility
    November 25, 2013
    Volvo Group's North American subsidiary, Nova Bus, and Canada’s Societe de Transport de Montreal (STM), are to partner on an electrification project for the public transit system of Montreal. A memorandum of understanding signed by both companies includes the testing of three Nova LFSe electric buses and two charging stations in Montreal. The goal is to have the noiseless and emission-free buses operational for demonstration in the third quarter of 2015 and in regular traffic for three years, beginning
    Read More

Highlighted Content