NEW YORK -- ACI Association has initiated research coverage on Image Sensing Systems, Inc.
Highlights from the ISNS Report include:
•Recent software launch - On May 28, 2015, Image Sensing Systems, Inc. announced the release of its Autoscope software version 10.5.0. The Company, engaged in the development of above-ground detection and information management solutions for the Intelligent Transportation Systems (ITS) sector, informed that the recently released software version has new Autoscope Cyclescope bicycle differentiation and detection feature, thus benefitting the traffic engineers and the transportation agencies.
•Benefits from Autoscope Cyclescope - While elaborating on the new feature, Image Sensing Systems stated that Autoscope Cyclescope not only enhances bicycle detection capability but also enables the system to differentiate between motorized systems and bicycles as they approach the junction. Additionally, Cyclescope doesn't require additional roadway markings, product purchases or equipment installations or maintenance, which together distinguishes this product.
•Advantage to the traffic engineers - With the help of Cyclescope feature, traffic engineers can offer bicycle timings in their traffic control strategy without making much changes to the junction control configuration. For doing that, they do not even require making changes to the traffic controller. Image Sensing Systems said that transportation agencies can configure the data collection to help them demonstrate the success of their bicycle-friendly programs.
•An update on Q1 2015 results - On May 14, 2015, Image Sensing Systems announced its results for the first quarter ended March 31, 2015. The Company recorded a flat growth in revenue at $4.34 million in Q1 2015 compared to $4.32 million in the year ago period. While revenue from royalties stood at $2.0 million, product sales contributed $2.3 million to the revenue. Product sales gross margin stood at 56% in Q1 2015, up approximately 20 percentage points, from Q1 2014 product gross margin of 37%. Commenting on the results, the Company's interim Chief Executive Officer, Dale Parker said, "During the first quarter, we saw improvement in our gross margins, despite it being our seasonally low volume quarter. In 2015, we are focused on managing profitable growth and net earnings. We are pleased with the results to date."
Select highlights from the internally released reports are being made available to the general public at: