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

For more information on companies in this article

Related Content

  • Highway congestion drives support for tolls
    September 16, 2016
    Increasing congestion on US highways and roads is driving almost three in four (72 per cent) Americans to support using tolls to pay for critical or needed transportation infrastructure projects if there are insufficient funds from other sources, according to the latest America THINKS national public opinion survey by HNTB Corporation. The survey polled a random nationwide sample of 1,022 Americans between 21 and 28 July 2016.
    Read More
  • UK transport operators raise concerns about financial impact of clean air policies
    May 22, 2018
    Over 85% of road transport professionals at the Microlise Transport conference believe measures to improve air quality will have a negative financial impact on their businesses. The findings come from a poll of 1,200 delegates at the road transport event in Coventry, UK. In addition, 92% think the needs of the transport industry are either not being considered, or only partially, in relation to the introduction of clean-air and low-emission zones. Three-quarters of respondents believe the government is
    Read More
  • Traffic signals turn red to stop speeding drivers
    March 15, 2012
    David Crawford is encouraged by the spread of 'soft' speed policing 
    Read More
  • Image Sensing Systems and trafficnow partner on traffic information
    September 23, 2015
    Image Sensing Systems (ISS) and Bluetooth sensors provider trafficnow have completed a distribution agreement for Image Sensing Systems to sell trafficnow’s DeepBlue sensor in most of North America and parts of the Middle East. This partnership will allow customers to leverage ISS’ RTMS radar detection technology and trafficnow’s DeepBlue Sensor. The combination of these sensors provides a complete picture of traffic information by being a big data source for up to 12 lanes of continuous traffic.
    Read More

Highlighted Content