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

  • Adaptive traffic control drives financial benefits
    July 24, 2012
    Prof. Klaus Banse, President of ITS Colombia and Ing. Robert Miranda, Head of the Traffic Management and Control System of Cartagena de Indias, Columbia, outline early cost benefits of an adaptive traffic control system. At the beginning of this year, Cartagena de Indias, located on the north coast of Colombia in the Caribbean, implemented a new adaptive traffic control system on 52 intersections with an investment of US$4.5 million.
    Read More
  • Brazil infrastructure concessions tempt investors
    June 22, 2015
    Private sector players are interested in US$45.8 billion of infrastructure concession projects planned as part of the second round of the country's logistics improvement program PIL. According to planning minister Nelson Barbosa, who said each of the concessions had attracted the attention of at least two potential bidders, the government was working to award tenders based on the highest canon payment offered as opposed to the lowest tariff and to reduce the 49 per cent participation of national airport
    Read More
  • Side road accidents ‘increase by 12% in a year’
    July 29, 2015
    The number of car accidents involving a driver pulling out of a side road accounted for an estimated 198,000 crashes nationwide last year, according to latest research by Accident Exchange. The accident management company analysed data from 39,000 cases of accidents it handled in 2014 and found that 9% were the result of a motorist emerging from a side road without paying enough attention. That figure in 2013 was 7.9%, representing an increase in real terms of 12% in the space of just 12 months. F
    Read More
  • ISS partners with Exacq Technologies
    April 10, 2013
    Image Sensing Systems (ISS) is to integrate Exacq Technologies’ exacqVision video management system (VMS) with CitySync licence plate recognition (LPR) software, enabling users to utilise CitySync’s industry leading LPR solution directly from the exacqVision client. License plates are scanned using CitySync’s line of specially configured IP cameras and the CitySync software running on a third party computer or directly on select exacqVision servers. Licence plate information is converted to serial data whic
    Read More

Highlighted Content