ISS announces increased revenue for first half of 2016

Image Sensing Systems (ISS) has announced revenue of US$7.9 million for the first half of 2016, a four per cent increase from revenue of US $7.6 million in the first half of 2015. Product sales increased to US$3.9 million in the first half of 2016, a 31 per cent increase from $3.0 million in the first half of 2015. The first six-months of revenue for 2016 included Autoscope video product sales and royalties of US$621,000 and US$4.0 million, respectively, and RTMS radar product sales of US$3.3 million. Pr
August 8, 2016 Read time: 2 mins
6626 Image Sensing Systems (ISS) has announced revenue of US$7.9 million for the first half of 2016, a four per cent increase from revenue of US $7.6 million in the first half of 2015. Product sales increased to US$3.9 million in the first half of 2016, a 31 per cent increase from $3.0 million in the first half of 2015.

The first six-months of revenue for 2016 included 6575 Autoscope video product sales and royalties of US$621,000 and US$4.0 million, respectively, and RTMS radar product sales of US$3.3 million. Product sales gross margin for the first six months of 2016 was 52 per cent, consistent with the same period in 2015.

The company’s second quarter 2016 sales increased approximately six per cent from the prior year period, while second quarter net income from continuing operations improved to US$1.2 million, an 82 per cent increase from the same period in 2015. Cash balance ended the quarter at US$964,000, down from US$1.4 million at the end of first quarter.

“We are in the preliminary stage of a business transformation and new technology innovation.  We continue to drive down operational costs and identify opportunities to operate within a leaner, more agile corporate structure focused on technology and engineering opportunities essential to our growth.  We are also evaluating alternatives to further enhance our credit and liquidity position,” said Chad Stelzig, ISS interim CEO.
Detection, Monitoring & Machine Vision Classification & Data Collection

For more information on companies in this article

Related Content

  • Image Sensing Systems offers accurate Bluetooth vehicle detection
    November 13, 2015
    Image Sensing Systems’ RTMS Sx-300 is a small roadside pole-mounted radar operating in the microwave band. It combines the company’s RTMS radar with a Bluetooth sensor for incident detection, travel time calculation and origin/destination information.
    Read More
  • RTMS radar detectors for Asian Games
    March 1, 2012
    Flow Traffic Limited, the Hong Kong-based wholly owned subsidiary of Image Sensing Systems, has won a large contract to supply vehicle detection systems to the city of Guangzhou, China. The contract is part of infrastructure improvements required for the Asian Games, a major sporting event to be held in Guangzhou from 12-27 November. The project will provide real time traffic guidance and journey time information to reduce congestion and travel time during the international event.
    Read More
  • ISS creates research lab
    September 12, 2013
    Image Sensing Systems (ISS) is to focus on exploring the developing promising new and early stage technologies for commercialisation within the intelligent transportation, safety and security sectors. To this end, the company has formed a new research department, ISS Labs, headed by Dr Panos Michalopoulos, ISS’ original founder.
    Read More
  • Allied Vision Technologies achieves record sales in first half of 2014
    July 23, 2014
    Allied Vision Technologies (AVT) closes the first half of 2014 with historic sales and volume figures. The machine vision camera manufacturer is far ahead of its plans and achieved record volume and revenues in May and June. Sales in volume in the first half of the year have been above AVT’s ambitious growth plans. The mark of 10,000 cameras shipped in one month was broken in May, a record in the 25-year history of the company. Revenues are also above plan in the first six month of 2014. A historical
    Read More

Highlighted Content