US just the ticket for Connexionz
Christchurch-based electronic bus-information company Connexionz says an improved pre-tax profit came after good progress on some of its United States contracts.
The $285,134 profit for the year to March 31 was an increase of 54 per cent compared with the previous year's pre-tax profit of $185,523.
Revenue for the 12 months to March 31 was $3.45 million, showing growth of 16 per cent compared to the previous year.
Connexionz produces real-time passenger information systems for public transport, giving passengers arrival times through websites and smartphones and interactive bus stop signs. Its systems also help bus operators manage their fleets.
During the 2013-14 year Connexionz was awarded an US$800,000 ($932,000) contract for the supply of an automated vehicle-location and passenger-information system for the Kings County Area Public Transit Agency in California.
Kings County is Connexionz' fifth customer in California and the company said it validated a strategy to focus sales and marketing efforts on the United States west coast.
In the same year it completed a US$500,000 contract to supply a system for the city of Corvallis in Oregon, and was installing a US$2.8 million system for the Golden Empire Transit District in Bakersfield, California, that it won in January 2013.
It was also working on a contract with the city of Pasadena that was awarded in January 2012, and after unexpected challenges would finish it in the 2015 financial year.
Connexionz said that while delivering the new contracts in California and Oregon, it had been developing its product, improving the reliability and functionality of the hardware and software.
Connexionz has systems installed and operating in the United States, Australia and New Zealand.