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I.D. Systems Inc. (IDSY) filed Quarterly Report for the period ended 2011-09-30.
I.d. Systems Inc. has a market cap of $64.3 million; its shares were traded at around $5.82 with and P/S ratio of 6.8.
This is the annual revenues and earnings per share of IDSY over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of IDSY.
Highlight of Business Operations:
Cost of products increased by $2.3 million, or 154.3%, to $3.8 million in the three months ended September 30, 2011 from $1.5 million in the same period in 2010. Gross profit for products was $3.1 million in 2011 compared to $1.0 million in 2010. The increase in gross profit was attributable to a $1.9 million (approximately $0.7 million from the Avis transaction) increase in the industrial and rental fleet management gross profit to $2.8 million in 2011 from $0.9 million in 2010 and a $0.1 million increase in the transportation asset management gross profit to $0.2 million in 2011 from $0.1 million in 2010. As a percentage of product revenues, gross profit increased to 44.5% in 2011 from 40.7% in 2010. The increase in gross profit as a percent of product revenue was due to transportation asset management product revenue contributing a higher gross profit percentage of 21.9% in 2011 from 15.1% in 2010 and the industrial and rental fleet management gross profit percentage of 48.8% in 2011 remaining relatively consistent with the gross profit margin of 49.2% in 2010.Cost of services decreased by $0.1 million, or 4.1%, to $1.5 million for the three months ended September 30, 2011 from $1.6 million in the same period in 2010. Gross profit for services was $2.8 million in 2011 compared to $2.4 million in 2010. The increase in gross profit was attributable to a $0.3 million increase in the industrial and rental fleet management gross profit to $0.9 million in 2011from $0.6 million in 2010 and a $0.1 million increase in transportation asset management gross profit to $1.9 million in 2011 from $1.8 million in 2010. As a percentage of service revenues, gross profit increased to 65.5% in 2011 from 59.6% in 2010. The increase in gross profit as a percent of service revenue was due to an increase in the industrial and rental fleet management gross profit percentage to 66.8% in 2011 from 64.1% in 2010 and an increase in the transportation asset management gross profit percentage to 64.2% in 2011 from 58.3% in 2010. The increase in the industrial and rental fleet management gross profit percentage is primarily due to an increase in revenues while fixed costs remained constant.
Revenues from products increased by $8.3 million, or 129.5%, to $14.7 million in the nine months ended September 30, 2011 from $6.4 million in the same period in 2010. Industrial and rental fleet management product revenue increased by $7.3 million to $12.0 million in 2011 from $4.8 million in 2010. Transportation asset management product revenue increased by $1.0 million to $2.6 million in 2011 from $1.6 million in 2010. The increase in industrial and rental fleet management product revenue resulted principally from increased product sales to Avis Budget Group, Inc. of $2.2 million principally from the new contract with ABCR (as detailed in Notes 2 and 8 to the Unaudited Condensed Consolidated Financial Statements), The Raymond Corporation of $1.4 million, Ford Motor Company of $1.9 million and the U.S. Postal Service of $0.9 million. The increase in transportation asset management revenue resulted principally from increased product sales to Hyundai Translead of $0.4 million and Great Dane Trailers of $0.3 million for product to be installed on the Wal-Mart Stores, Inc. fleet.
Cost of products increased by $5.0 million, or 149.7%, to $8.4 million in the nine months ended September 30, 2011 from $3.3 million in the same period in 2010. Gross profit for products was $6.3 million in 2011 compared to $3.0 million in 2010. The increase in gross profit was attributable to a $3.4 million (approximately $0.7 million from the Avis transaction) increase in the industrial and rental fleet management gross profit to $5.7 million in 2011 from $2.3 million in 2010 offset by a $0.1 million decrease in the transportation asset management gross profit to $0.7 million in 2011 from $0.8 million in 2010. As a percentage of product revenues, gross profit decreased to 43.0% in 2011 from 47.7% in 2010. The decrease in gross profit as a percent of product revenue was due to transportation asset management product revenue contributing a lower gross profit percentage of 24.7% in 2011 from 49.6% in 2010 principally due to increasing hardware sales and the industrial and rental fleet management gross profit percentage of 47.1% in 2011 remaining relatively consistent with the gross profit margin of 47.0% in 2010.
Cost of services decreased by $0.4 million, or 7.4%, to $4.50 million, in the nine months ended September 30, 2011 from $4.9 million in the same period in 2010. Gross profit for services was $8.2 million in 2011 compared to $7.3 million in 2010. The increase in gross profit was attributable to a $0.7 million increase in the industrial and rental fleet management gross profit to $2.1 million in 2011from $1.4 million in 2010 and a $0.2 million increase in the transportation asset management gross profit to $6.1 million in 2011 from $5.9 million 2010. As a percentage of service revenues, gross profit increased to 64.5% in 2011 from 60.0% in 2010. The increase in gross profit as a percent of service revenue was due to an increase in the industrial and rental fleet management gross profit percentage to 61.8% in 2011 from 58.2% in 2010 and an increase in the transportation asset management gross profit percentage to 65.5% in 2011 from 60.5% in 2010 primarily due to an increase in service revenue with fixed costs remaining relatively constant, driving the margin higher.
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