ITERIS Reports 29.3% Increase in Revenue for First Quarter of FY2024
August 11, 2023
☀️Earnings Overview
For the quarter ending June 30 2023, ITERIS ($NASDAQ:ITI) reported total revenue of USD 43.5 million, a 29.3% increase compared to the same quarter the previous year. Their net income for the period was also up, with a 143.6% increase to USD 2.1 million.
Analysis
GoodWhale conducted an analysis of ITERIS‘s wellbeing and found that it was classified as a “cheetah” company. This means that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are interested in such a company would likely be looking for high returns from capital appreciation, rather than dividend yields. The Star Chart also reveals that ITERIS is strong in asset and growth, medium in terms of profitability, and weak in terms of dividend. Furthermore, ITERIS has an intermediate health score of 4/10 considering its cashflows and debt, indicating that it might be able to pay off debt and fund future operations. All in all, the company appears to be well-positioned and attract investors who are comfortable with taking on a higher risk of capital loss. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Iteris. ITERIS_Reports_29.3_Increase_in_Revenue_for_First_Quarter_of_FY2024″>More…
| Total Revenues | Net Income | Net Margin |
| 165.93 | -7.87 | -4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Iteris. ITERIS_Reports_29.3_Increase_in_Revenue_for_First_Quarter_of_FY2024″>More…
| Operations | Investing | Financing |
| 6.55 | -2.11 | 0.74 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Iteris. ITERIS_Reports_29.3_Increase_in_Revenue_for_First_Quarter_of_FY2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 118.38 | 52.57 | 1.55 |
Key Ratios Snapshot
Some of the financial key ratios for Iteris are shown below. ITERIS_Reports_29.3_Increase_in_Revenue_for_First_Quarter_of_FY2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.4% | -14.2% | -4.6% |
| FCF Margin | ROE | ROA |
| 2.7% | -7.4% | -4.0% |
Peers
The company was founded in 1984 and went public in 1999. Iteris competes with other technology companies that focus on transportation and agriculture solutions, such as Precision Electronics Ltd, Huneed Technologies, and Traffic Control Technology Co Ltd.
– Precision Electronics Ltd ($BSE:517258)
Precision Electronics Ltd is an Indian electronics company that manufactures products for the telecommunications, automotive, and defense industries. The company has a market cap of 634.26M as of 2022 and a return on equity of 17.27%. Precision Electronics Ltd is a leading manufacturer of telecommunications equipment in India and has a strong presence in the automotive and defense industries. The company has a diversified product portfolio and a strong R&D base.
– Huneed Technologies ($KOSE:005870)
Huneed Technologies is a publicly traded company with a market capitalization of $86.14 billion as of 2022. The company’s return on equity is 2.43%. Huneed Technologies is a provider of technology solutions for the aerospace, defense, and security industries. The company’s products and services include aircraft components, radar and electronic warfare systems, and satellite communication systems.
– Traffic Control Technology Co Ltd ($SHSE:688015)
Traffic Control Technology Co Ltd has a market cap of 3.82B as of 2022. The company’s return on equity is 7.39%. Traffic Control Technology Co Ltd is a leading provider of traffic control solutions in China. The company’s products are used in a wide range of applications, including highway and urban traffic management, intelligent transportation systems, and public transportation.
Summary
Investors should be encouraged by ITERIS‘ strong performance in the first quarter of FY2024. Total revenue increased by 29.3% year-on-year to USD 43.5 million, while net income grew by 143.6%, reaching USD 2.1 million. These figures demonstrate a robust improvement in the company’s financials and suggest that ITERIS is well-positioned for future growth. With a strong management team, cost-efficient operations, and a diversified customer base, ITERIS is a solid investment opportunity.
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