This Day On The Street
Continue to site
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

ID Systems' CEO Discusses Q4 2011 Results - Earnings Call Transcript

These risks could cause the company’s actual results for the current fiscal year and beyond to differ materially from those expressed in any forward-looking statements made by or on behalf of the company.

The fourth quarter of 2011 continued the positive momentum we reported at the end of Q3. Our Q4 revenue of $11.8 million is our highest quarterly revenue achievement to date, a 64% year-over-year improvement from Q4 2010 and a 5% sequential increase over Q3, 2011. The fourth quarter 2011 also marks our sixth consecutive quarter of sequential revenue growth.

Our performance was driven by increased sales across all of our wireless asset management product segments including continued expansion of our rental car management system for Avis, the continued strong resurgence of our material handling and fleet management business and robust growth from our trailer and container tracking solutions.

In addition to achieving record revenue, we maintained a strong stable gross margin north of 50% for the quarter and continue to adhere to the cost reduction plan we put in place at the end of 2010.

As a result, we broke even on a GAAP basis for Q4 and increased our non-GAAP net income to $0.07 per share from $0.06 in the prior quarter. For the full year, I am very pleased to report that we achieved essentially all of the goals we set out to accomplish.

We increased revenue to 52% to a record 39.3 million with success in every strategic area including expansion of business with core customers, new product and market developments and new customer wins through both direct and indirect sales channels. We continue to book a substantial volume of recurring revenue, $16.4 million or 42% of total revenue in 2011.

We maintained a healthy 52% gross margin for the year, exceeding our historical target of 50%. We reduced overhead expenses by $2.3 million or 8% overall which is a particularly notable achievement when you consider it side by side with our 52% revenue increase. And we significantly reduced our net loss by more than two-thirds on a GAAP basis and by 94% on a non-GAAP basis as Ned will discuss in a moment.

2 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs