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

  • Q-Free to supply toll tags to Thailand
    February 13, 2014
    The Expressway Authorities of Thailand (EXAT), which constructs, maintains, and manages the country's expressways and public transportation infrastructure, has placed a US$5.6 million order with Q-Free for delivery of tags. The order will be delivered between now and the end of the second quarter 2014. “This significant order is further positioning Q-Free as a major supplier of products to the fast growing tolling market in Thailand. New road infrastructure creates demands for further tolling systems and
    Read More
  • Gig economy ‘makes congestion better AND worse’, says StreetLight Data
    March 15, 2019
    The gig economy is reshaping the way we think about travel and recreation – but when it comes to whether it increases congestion, there’s no simple answer, finds Adam Hill
    Read More
  • Sensys says RTMS Echo brings 12 lanes into view
    December 11, 2023
    Radar solution can be configured with a computer, tablet or smartphone
    Read More
  • ITS market size ‘to reach US$38.68 billion by 2020’
    December 21, 2015
    The global ITS market is expected to reach US$38.68 billion by 2020, according to a new study by Grand View Research. Increasing demand for alleviating traffic congestion and growing need for enhancing existing transportation networks is expected to drive demand over the forecast period. Growing urban population and increased fund allotment by various governments across the globe is driving need for advanced transportation network. This is estimated to be fulfilled by proper use of wireless communication
    Read More

Highlighted Content