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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

I.D. Systems' CEO Discusses Q1 2012 Results - Earnings Call Transcript

As we grow, we will continue to exercise discipline on expenses as we have for example, by recently consolidating the sales forces of our subsidiaries. We’re working hard to continue the positive momentum we achieved in 2011 and Q1 2012 with our ultimate aim to build shareholder value.

Thank you for your time today. I look forward to your questions later on the call. Now let me turn the discussion over to Ned Mavrommatis to detail our financial results for the fourth quarter and full-year 2011.

Ned Mavrommatis

Thank you Jeff, and hello to everyone on the call today. As Jeff noted, revenue in Q1, 2012 increased to $9.8 million, up 25% from $7.8 million in the first quarter a year ago. High margin recurring revenue was $4.2 million, up 4% from $4 million in the corresponding quarter a year ago. Recurring revenue represented 43% of total revenues in Q1 2012, consistent with 2011 when recurring revenue was 42% of total revenue for the year.

Our vehicle management business contributed $5.3 million of revenue in Q1 2012, a 35% increase over Q1 2011, while our transportation asset management business contributed $4.5 million, up 17% from the first quarter a year ago. As Jeff mentioned, our gross margins in the first quarter of 2012 remained robust and consistent 50%.

SG&A expenses in Q1 2012 were $5.6 million, up 9.5% over Q1 of 2011, but only 1.5% up sequentially compared to Q4 2011. R&D expenses in the first quarter were $1.1 million compared to $906,000 in Q1 2011 and $931,000 in Q4 2011. Excluding stock based compensation and depreciation and amortization, our non-GAAP net loss in Q1 2012 improved to $840,000 or $0.07 per basic and diluted share, compared to a non-GAAP net loss of $852,000 or $0.08 per basic and diluted share in Q1 2011.

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

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs