Explore Live NextBus Implementation
We now have more than 50 North American transit systems using real-time reporting on 100s of routes. Please begin with a virtual visit to the new NextBus installation at MIT in Cambridge, MA--and from there to all of our live installations. Click here to begin your exploration.
May
17
NextBus Parent Company Records Q1 2010 Revenue Jump
Filed Under Feature Stories, Grey Island Systems, NextBus, Inc., WebTech Wireless | Leave a Comment
Our new parent company, WebTech Wireless Inc. (TSX: WEW today reported revenue of $10.5 million for the fiscal quarter ended March 31, 2010. This compares to $6.7 million for the same quarter in the prior fiscal year for growth of 57%, driven by the addition of the Company’s InterFleet™ and NextBus™ businesses, acquired in late 2009 and compares to $8.3 million in the quarter ended December 31, 2009, for growth of 27%.
“This is our first full quarterly period reporting consolidated results from all three of our brands, Quadrant®, InterFleet and NextBus and the first period under new management. We are obviously pleased to report
revenues rising, margins improving and expenses falling. We are also pleased to be approaching our goal of positive EBITDAS”, said Scott Edmonds, WebTech Wireless, President and CEO.
Highlights from WebTech Wireless 1st Quarter 2010 Report
• First quarter with revenue in excess of $10 million.
• Recurring Subscriptions, Software and Services revenue totaled $6.2 million representing 59% of overall revenue, a trend which is expected to continue, and which marks the first time hardware sales have represented less than 50% of revenue.
• Profit margins of 54% are slightly below the prior comparable period but are significantly above those reported for the prior preceding quarter and are two percentage points above those reported for the year ended December 31, 2009.
• Expenses in the quarter are 21% below expenses for the immediately prior quarter – reflecting ongoing cost cutting implemented by new management, and include more than $500,000 in nonrecurring severance charges, and are approximately double the expenses reported in the prior
comparable quarter, reflecting the addition of the InterFleet and NextBus business, but also the addition of approximately $1.2 million in non-cash Amortization and Stock Based Compensation expenses.
• A loss of $1.9 million ($0.02 per share) for the quarter which translates to an Earnings Before Interest, Taxes, Depreciation, Amortization and Stock Based Compensation, (“EBITDAS”) loss of $0.9 million ($0.01 per share), or $0.4 million ($nil per share) when severance charges from a reorganization of its sales department are backed out of the results.
For more information on WebTech Wireless go to: www.WebTechTechWireless.com
Feb
24
Another Canadian City Adopts NextBus Technology
Filed Under Municipal Transit, Real-time Passenger Information Systems, WebTech Wireless | Leave a Comment
Welland to Install Real-time Passenger Info and Stop Annunciation System on 15 Buses
NextBus® will soon be helping bus passengers in the city of Welland, Ontario thanks to a contract won by its parent company, WebTech Wireless. The NextBus® real-time passenger information solution including the first sale of the NextBus® Stop Annunciation System, which provides riders with visual and audio information on the bus’ route and next stop.
The contract includes an initial installation of the system on 15 buses and represents an approximate value of CDN $140,000. The City of Welland, located in the Regional Municipality of Niagara, has a population of 50,000 and currently operates buses on 14 routes.
Owen Moore, COO at WebTech Wireless said, "NextBus® is also proving to be highly adaptable to customer needs, and we’re very pleased that when Welland Transit needed a very cost-effective bus stop announcement system, they chose our NextBus® suite over that of competitors."
Commenting on the sales, Scott Edmonds, WebTech Wireless’ President and CEO said, "We’re seeing that activity in the government sector for our InterFleet® and NextBus® solutions is strong and growing as more and larger government agencies are becoming aware of the technological superiority and potential for customization that our products provide. I’m very pleased with the work of our InterFleet ®and NextBus® teams as they continue to outpace our competitors in pursuit of rewarding contracts such as these and others on the horizon."