International Road Dynamics Inc.

International Road Dynamics Inc.

January 24, 2006 11:22 ET

IRD Provides Update on 2005 Results

SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 24, 2006) - International Road Dynamics Inc. (TSX:IRD) (IRD) provided an update today on its financial results for the fourth quarter and year ended November 30, 2005.

While the passing late last year of the highway and transit reauthorization bill SAFETEA-LU (the Safe, Accountable, Flexible and Efficient Transportation Equity Act-A Legacy for Users) will highly favourable to IRD's future business in the United States, new installations of the Company's equipment and services in the US 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 US business over the next few years as a result of this new funding commitment by the US government," commented Terry Bergan, President and CEO. "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 November 30, 2005 by press release the afternoon of February 8, 2006.

Certain statements in this discussion may include "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of International Road Dynamics Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this discussion, such statements use such words as "may", "will", "expect", "anticipate", "project", "believe", "plan", 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 from time to time 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.

IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems (ITS) industry. IRD is a North American company based in Saskatoon, Saskatchewan with sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced systems to manage and protect their highway infrastructures.

The Company's shares trade on the Toronto Stock Exchange under the symbol IRD.

Contact Information

  • International Road Dynamics Inc.
    Terry Bergan
    President & CEO
    (306) 653-6600 or U.S. (303) 355-5998
    International Road Dynamics Inc.
    Francine Senecal-Lepage
    Investor Relations
    (306) 653-6603
    (306) 653-6609 (FAX)