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ISNS
Image Sensing Systems, Inc. - NASDAQ

7/10/2014, 4:36 AM ET
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There are 2 articles on this stock available only to PRO subscribers.
  • Elevated R&D Spend Masks Earnings Power At Image Sensing Systems
      Mike Arnold Sat, May. 3 30 Comments

    Summary

    • Consolidated net sales down 6% year-over-year; extreme weather conditions partly to blame.
    • GAAP earnings down, as royalty income stream is being reinvested in R&D for growth opportunities in software solutions -- Safe Cities.
    • GAAP earnings pressured by continued professional services expenses with respect to an ongoing, albeit winding down, FCPA investigation and non-cash charges.
  • Image Sensing Systems: An Undervalued Opportunity In The Intelligent Traffic Solutions Industry
      Mike Arnold Fri, Mar. 14 24 Comments

    Summary

    • High margin royalty income protects downside and provides upside potential.
    • License Plate Recognition ("LPR") hardware/software solutions offer upside optionality.
    • Management has multiple levers to drive cash flow generation and profitability.
    • Ongoing FCPA investigation creates uncertainty; 2013 earnings results hampered by non-recurring professional services costs. Management believes all FCPA related expenses are finished except for potential fine.
    • Image Sensing Systems is a takeover candidate; the company adopted a shareholder's rights plan in 2013 to avoid being acquired at a discount.
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Company Description

Image Sensing Systems, Inc., develops and markets video and radar image processing products for use in traffic applications such as intersection control, highway, bridge and tunnel traffic management and traffic data collection.

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