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

  • Costing transit is complicated case
    August 19, 2015
    David Crawford welcomes fresh thinking from Canada. Public transit improvements can bring society “significantly more value” than conventional transport models normally indicate, argues Canadian researcher Todd Litman. “Traditional evaluation practices originally developed to assess roadway improvements, and focus primarily on vehicle travel speeds and operating costs. “They do not generally quantify or monetise basic mobility benefits, vehicle ownership and parking cost savings, or efficient land developme
    Read More
  • Modernising India's bus travel
    August 29, 2012
    Award-winning ITS initiatives are promising modernisation of bus travel as a key part of development plans for cities of the Indian state of Karnataka. The Indian state of Karnataka is poised to launch the next stage of a major rollout of ITS technology on its bus network following the August 2012 go-live of an award-winning passenger information system. The Karnataka State Road Transport Corporation (KSRTC), which is owned by the state government
    Read More
  • Significant drop in Europe’s traffic congestion mirrors economic downturn
    June 25, 2012
    Inrix, a leading international provider of traffic information and intelligent driver services, has released its latest traffic scorecard which shows that, among the 13 European nations analysed, the countries impacted the most by the European debt crisis mirror those with the largest drops in traffic congestion. Portugal (-49%), Ireland (-25%), Spain (-15%) and Italy (-12%) were among those with the largest declines last year. Despite being considered the strongest European economies, troubles across the E
    Read More
  • Study shows lifetime cost of EVs is comparable to conventional vehicles
    June 17, 2013
    Consumers who purchase an electric vehicle will find that costs to own the vehicle are competitive with conventional and hybrid vehicles, according to an analysis conducted by the US Electric Power Research Institute (EPRI). The study compares the Chevrolet Volt and Nissan Leaf with petrol-fueled cars that reflect average costs for different makes and models. Nissan lowered the price of the Leaf by about US$6,000 in January. It looks at several factors, including petrol and power prices, incentives, financi
    Read More

Highlighted Content