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Iteris, Inc. Message Board

  • o08o.ugh64w o08o.ugh64w Jan 28, 2014 4:17 PM Flag

    Earnings just ok, not dazzling

    They met EPS estimate, but backlog is down.

    Will be interesting to see where the stock goes tomorrow. Could see $2.10 again before heading higher.

    It's a solid earnings report, but wasn't a home run.

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    • "Could see $2.10 again before heading higher."

      as stated

    • Revs. have been, in 000's dollars :

      13,994 15,883 17,030 16.500 over last 4 Qs

      On CC, CEO says this is a seasonally slow Q. 2, 1 ,4 ,3 are the Q's listed in order with best first and worst last. So THIS Q is worst and we are comparing it to the BEST. So if the best is say at an average of 26% and the worst is 22-23% you can see there's a seasonal adjustment . CEO says he would be "extremely disappointed" if he did NOT see sequential growth next Q.

      So lets just say it's $17M next Q. That's a run rate of $68M as compared to 2013's $61.6.
      That's a 10% increase. Nothing mind blowing. But 2013 was up only 5% over 2012, so there is progress there. AND they say they are just starting to see more requests for proposals due to the increase in funding.

      On 5-20-2013 I reported on this message board
      From CC:

      "there was an 18% increase in iPerform revenues, which accounted for approximately 5% of our total fourth quarter revenues and was primarily related to the extended contract revenues."

      If you notice iPerform, is 5% of revenue but over 10% of the backlog.
      I went back to that post and copied and pasted.
      So iperform, I think, has higher margins and there's been a significant investment there but not too much ROI yet. Now, let's check progress in iperform. From earnings PR:

      Total backlog at the end of the third quarter was $36.8 million ... comprised of $4.4 million from iPerform.

      So that's now up to about 12% of the backlog. But due to timing of orders Iperform revs. were off by 8%. In spite of that iperform revs are $1.695M, or over 10% of totals revs. That's a decent increase from 5 to 10% of revs.So even with lumpy results there is progress there.

      So we have growing revs but road sensors are growing at 45% YOY. That's great.

      So higher margin revs and really gaining traction. So the overall picture is a ROI starting to come in from their iperform asset , higher margins, along with 10% growth but the proposals are just starting to roll.

    • Looks good to me... sometimes i think a home run is not good enough, its got to go out of the park across the street and get lost in the woods. overall they are doing a good job...

      Sentiment: Strong Buy

2.15+0.05(+2.38%)Feb 8 3:59 PMEST