This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

I.D. Systems' CEO Discusses Q3 2011 Results - Earnings Call Transcript

Not surprisingly with our consistent quarter-to-quarter improvements, our year-to-date performance in 2011 has also met or exceeded our expectations. I.D. Systems revenue for the first nine months of 2011 was $27.5 million, a 47% increase compared to the same period a year ago. At the same time, our SG&A and R&D expenses decreased 9% compared to the same year ago period.

We continue to believe that we can drive our revenue up to approximately 50% with the overhead structure we currently have in place. Our focus on Q4 2011 and beyond remains the same. We continue to target new customers and applications, as well as organic opportunities for topline revenue growth, we strive to increase predictable recurring revenue as a percentage of total revenue, we are committed to maintaining discipline on costs and our ultimate goal remains to further improve our net results and increase shareholder value.

Thank you for your time today, I look forward to your questions later on the call. Now, let me turn it over to our CFO, Ned Mavrommatis to detail our financial results.

Ned Mavrommatis

Thank you, Jeff, and hello to everyone on the call today. As Jeff noted, our revenue for the third quarter ended September 30, 2011, increased 74% to $11.3 million from same $6.5 million for the third quarter of 2010. The in revenue was due to increase sales of our company’s wireless vehicle management systems for fleets of rental cars and industrial trucks. Recurring revenue for the quarter was $4.2 million.

Our gross margins for the quarter were 52%, reflecting continued price stability of our systems and high margins for our recurring revenues, primarily from the transportation asset management systems of our Asset Intelligence subsidiary.

Operating expenses for the quarter remain flat at $6.5 million, if you exclude stock-based compensation and depreciation and amortization of intangible assets of $880,000, non-GAAP operating expenses for the quarter were $5.6 million.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,842.85 -85.35 -0.48%
S&P 500 2,074.43 -15.03 -0.72%
NASDAQ 4,906.1140 -33.2130 -0.67%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs