INTERNATIONAL ROAD DYNAMICS $1.25 (Toronto symbol IRD; SI Rating: Speculative) (306-653-6600; www.ird.ca; Shares outstanding: 14 million; Market cap: $17.4 million) is a highway traffic management technology company that specializes in supplying products and systems to the global intelligent transportation systems industry. These include automated toll-road systems, automated truck weigh station systems, WIM (Weigh-in-Motion) systems, advanced traffic control, driver-management systems and data-collection systems.
In addition to products and systems, International Road Dynamics also provides long-term service and maintenance.
International Road is based in Saskatchewan, but has sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use International Road’s products and systems to manage and protect their highway infrastructures.
In the three months ended February 29, 2008, revenues fell 16.4%, to $6.9 million from $8.3 million. The decline was a result of lower sales to China in the latest quarter. The company lost $156,125, or $0.01 a share, in the latest quarter, compared to a profit of $387,461, or $0.03 a share, a year earlier. Total debt is high, at $9.1 million, or 52% of market cap.
International Road has systems in operation around the world. It has major installations throughout Canada, the United States, Saudi Arabia, Pakistan, India, China, Hong Kong, Indonesia, Korea, Malaysia, Brazil, Mexico and many other countries.
International Road Dynamics is a buy for aggressive investors in global penny stocks.
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