ISS announces 2017 first half financial results

Image Sensing Systems (ISS) has announced results for its second quarter and first half ended 30 June 30 2017. ISS’s revenue for the first half of 2017 was US$6.6 million, a 17 per cent decrease from revenue of US$7.9 million in the first half of 2016. Sales gross margin for the first six-months of 2017 was 78 per cent, a two per cent increase from the prior year period. The increase in gross margin was the result of a higher percentage of revenue from royalties, improved product sales gross margin and a
August 11, 2017 Read time: 2 mins
6626 Image Sensing Systems (ISS) has announced results for its second quarter and first half ended 30 June 30 2017.

ISS’s revenue for the first half of 2017 was US$6.6 million, a 17 per cent decrease from revenue of US$7.9 million in the first half of 2016.  Sales gross margin for the first six-months of 2017 was 78 per cent, a two per cent increase from the prior year period.  The increase in gross margin was the result of a higher percentage of revenue from royalties, improved product sales gross margin and a decrease in the warranty reserve recorded in the first six-months of 2017. Revenue from royalties was US$3.5 million in the first six-months of 2017, compared to $4.0 million in the same period in 2016, a 12 percent decline. Product sales were US$3.1 million in the first half of 2017, a 22 per cent decrease from US$3.9 million in the first half of 2016.

The first six-months of revenue for 2017 included 6575 Autoscope Video product sales and royalties of US$628,000 and US$3.5 million respectively and RTMS Radar product sales of US$2.4 million. Product sales gross margin for the first six months of 2017 was 59 per cent, a seven per cent increase from the same period in the prior year.

"The soft second quarter royalty reflects a decrease in Autoscope Vision sales as the early adopters deployed and are evaluating the product prior to larger scale deployments," said Chad Stelzig, CEO for ISS.  "We have been closely tracking any installation issues and are working with our partner 1763 Econolite to address customer concerns as they arise."

"Econolite recently announced the award of a 300-intersection traffic signal upgrade program in Miami-Dade County that will include Autoscope Encore video sensors," said Chad Stelzig.  "The Autoscope sensors will provide the vehicle detection information required to accomplish adaptive signal control along 12 congestion management corridors.  It is exciting to see Autoscope recognised as a core component to an infrastructure modernisation project that will help reduce congestion, travel time and emissions," concluded Stelzig.
Detection, Monitoring & Machine Vision Classification & Data Collection

Related Content

  • March 14, 2014
    New radar-based detection from ISS
    Image Sensing Systems (ISS) has added the Autoscope RTMS Sx-300 to its traffic management product range, providing accurate, advanced vehicle detection, and the ability to detect up to 12 lanes of simultaneous detection, reporting vehicle presence as well as volume, occupancy, speed and classification information. The device provides a fully automated set-up feature that self-detects and self-calibrates detection zones, providing users with a simple and cost effective installation process. The combi
    Read More
  • June 13, 2014
    Chinese city improves traffic flow with ISS
    Image Sensing Systems’ (ISS) Hong Kong based subsidiary has supplied and installed 360 units of Autoscope video detection equipment for integration with traffic signal controllers in the large Chinese city of Jining, a coal mining area in the southern part of Shandong province. The city has a population of over eight million people and the rapid economic growth and explosive increase of individual vehicle ownership have lead to significant problems with traffic congestion. Local company Anhui Keli suppli
    Read More
  • October 17, 2014
    Iteris first quarter 2015 revenues up
    Iteris has reported total revenues of US18.1 million for its fiscal first quarter 2015, up six per cent over the same quarter a year ago. This was primarily driven by a 20 per cent increase in roadway sensors. iPerform revenues were also up 15 per cent, while transportation systems revenues were down seven per cent, but added US$10.1 million in new contracts The increase in roadway sensors revenues was largely attributable to the success of various growth initiatives, including increases in the distribut
    Read More
  • July 4, 2014
    Image Sensing Systems and Econolite amend agreement
    Image Sensing Systems has amended its long-time agreement with Econolite Control Products (Econolite). As of 14 July 2014, domestic marketing and manufacturing of the Autoscope RTMS radar product line will transition from Econolite to ISS. Econolite will continue to manufacture, market and distribute ISS’ video detection products for the Americas, and both companies will work together to make this transition as seamless as possible for their customers, partners and distributors. “We want to thank Econ
    Read More

Highlighted Content