International Road Dynamics Inc. (IRD) recently provided an update on its financial results for the fourth quarter and year ended Nov. 30, 2005.
While the passing of the highway and transit reauthorization bill SAFETEA-LU late last year will be highly favorable to IRD’s future business in the U.S., new installations of the company’s equipment and services in the U.S. markets continued to be delayed through the period. As a result, IRD now expects to report net earnings of between $0.00 and $0.01 per share in the fourth quarter of fiscal 2005.
“We remain confident that we will see solid growth in our U.S. business over the next few years as a result of this new funding commitment by the U.S. government,” said Terry Bergan, president and CEO of IRD. “However, we now expect that these benefits will not be experienced until the third and fourth calendar quarters of 2006 at the earliest.”
IRD will issue its results for the quarter and year ended Nov. 30, 2005 on Feb. 8.
Certain statements in this discussion may include "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of IRD to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this discussion, statements use words such as "may," "will," "expect," "anticipate" and other similar terminology. The risks and uncertainties are detailed from time to time in reports filed by the corporation with the securities regulatory authorities in applicable provinces and territories of Canada.
New risk factors may occasionally arise and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the corporation to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.