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

  • Econolite and Sensys Networks expand collaboration
    April 7, 2015
    Econolite and Sensys Networks have expanded their current sales and distribution agreement to offer customers in more regions new options for ITS. As part of the contract, Econolite will private-label and offer the Sensys Networks wireless vehicle detection system, including in-ground vehicle and bicycle detection sensors, software and accessories in select North American markets. The expanded agreement will provide more of Econolite’s customers with a turn-key integrated in-ground vehicle detection solutio
    Read More
  • Miami-Dade Transit installs passenger information screens
    May 1, 2013
    Florida’s Miami-Dade Transit has installed liquid crystal display screens at several Metrorail stations to provide commuters with up to date travel information. The LCD screens are the latest technological improvement on the Metrorail system, and display arrival and departure times for the next three trains, and show which trains serve the Green Line (Palmetto to Dadeland South), and which belong to the Orange Line (Dadeland South to Miami International Airport). The monitors have been installed in ten and
    Read More
  • Priority for safety and interoperability, need for DSRC
    July 18, 2012
    Justin McNew, Chief Technology Officer, Kapsch TrafficCom Inc., USA offers his opinion of where 5.9GHz DSRC technology will head in the coming years. The debate ranges back and forth over the most suitable technological solution for future tolling and charging in the US. However, the coming trend is common cooperative infrastructure: instrumented roads and vehicles with the capacity to communicate with each other over all manner of safety, mobility and traveller applications, many of which will involve fina
    Read More
  • Norway continues to lead global electric vehicle market
    September 23, 2016
    Norway continues to lead the global market for electric vehicles, according to the most recent plug-in electric vehicle (PEV) index from IHS Automotive, part of business information provider IHS Markit. Plug-in electric vehicles are defined as either a pure Battery Electric Vehicle (BEV) or a Plug-In Hybrid Vehicle (PHEV). Based on analysis of new vehicle registrations during the first quarter 2016, one out of every three vehicles registered in Norway during the quarter was a plug-in electric vehicle, r
    Read More

Highlighted Content