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
"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.