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AUTOSCOPE TECHS CORP - AATC STOCK NEWS

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Autoscope Technologies Corporation (OTCQX: AATC) is a pioneering entity in the realm of Intelligent Transportation Systems (ITS) with a commitment to enhancing safety and efficiency on urban roads and highways. Headquartered in Minneapolis, Minnesota, the company excels in developing and delivering above-ground detection technology and comprehensive solutions to ITS professionals. Autoscope Technologies' flagship products include the Autoscope® video detection family and the RTMS radar detection family, providing precise data with real-time responsiveness and in-depth analytics to facilitate informed decision-making.

In 2023, Autoscope Technologies showcased notable financial resilience and strategic growth. The company reported a net income of $4.5 million from continuing operations, a significant increase from $149,000 in the previous year. This surge is attributed to the strong market demand for the Autoscope Vision product line in North America, spurred by the Bipartisan Infrastructure Law and the Safe Streets and Roads for All (SS4A) program. Product sales, however, saw a decline, which was expected due to the lifecycle end of legacy video detection products in certain international markets.

Autoscope Technologies made strategic decisions to streamline its operations, including the sale of its RTMS radar detection product line to Sensys Networks, Inc. for approximately $4.8 million. This move allows the company to focus on its core competencies in video detection technology. Such strategic realignments have enhanced their operational efficiencies and bolstered their financial standing, resulting in a cash balance increase to $6.5 million by the end of 2023.

On the research and development front, the introduction of Autoscope IntelliSight marks a significant milestone, reflecting the company's ongoing commitment to innovation. Despite a planned workforce reduction in April 2024, which incurred a one-time cost of $37,000 but is expected to save $660,000 annually, the company's focus remains steadfast on fostering technological advancements and operational excellence.

Moreover, the company has consistently rewarded shareholders with dividends, including a special one-time cash dividend of $1.32 per share in early 2024, demonstrating strong shareholder value commitment amidst robust financial health.

Overall, Autoscope Technologies Corporation continues to leverage its industry expertise and strategic initiatives to drive growth and enhance its market position, ensuring that it remains a pivotal player in the ITS sector.

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Autoscope Technologies (OTCQX: AATC) reported Q3 2024 financial results with net income of $0.25 per basic share and $0.24 per diluted share. The company increased its quarterly dividend to $0.15 per share, payable November 25, 2024. Q3 highlights include: royalties decreased 12% to $3.3 million, operating expenses decreased 12% to $1.6 million, and income from operations decreased 11% to $1.6 million. For the first nine months of 2024, royalties decreased 3% to $10.2 million, while income from operations increased 12% to $4.7 million.

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Autoscope Technologies (OTCQX: AATC) reported strong financial results for Q2 2024. Net income from continuing operations was $0.28 per share for the quarter and $0.44 per share for the first half of 2024. The company declared a quarterly cash dividend of $0.13 per share. Key highlights include:

- Royalties increased to $3.70 million in Q2 2024
- Operating expenses decreased 18% to $1.7 million in Q2 2024
- Income from operations totaled $1.9 million in Q2 2024
- Gross margin improved to 95% in Q2 2024
- Cash and cash equivalents stood at $1.9 million as of June 30, 2024

The company's performance was driven by strong demand for Autoscope Vision in North America, supported by increased infrastructure funding.

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Autoscope Technologies announced its financial results for the first quarter of 2024, including a 4% increase in royalties, a quarterly cash dividend of $0.13 per share, and a strong market demand for Autoscope Vision in North America due to project awards and funding from the Bipartisan Infrastructure Law.

The company reported a net income of $0.9 million for the first quarter of 2024, with a gross margin of 96%. Operating expenses remained steady at $1.9 million, and the company declared a special one-time dividend payment in February 2024.

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Autoscope Technologies (AATC) reported positive financial results for Q4 2023 and full-year 2023. Royalties increased by 5% to $2.5 million in Q4, while product sales surged by 219% to $102,000. Operating expenses remained steady at $2.0 million. For the full year, royalties rose by 58% to $13.0 million, but product sales dropped by 53% to $173,000. Net income from continuing operations saw a significant increase to $4.5 million in 2023. The company's cash balance also grew to $6.5 million, up from $1.2 million in the prior year.
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Autoscope Technologies Corporation (AATC) declares a regular quarterly dividend of $0.13 per share, payable on March 5, 2024, to shareholders of record on February 27, 2024.
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Butler National appoints two independent directors and CEO to the Board of Directors, enhancing aviation expertise and shareholder value.
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Autoscope Technologies Corporation (AATC) declared a special one-time cash dividend of $1.32 per share of common stock, payable on February 12, 2024, to shareholders of record at the close of February 5, 2024. The Board of Directors determined that the payment of a special dividend was in the best interest of the Company and its shareholders, based on the Company's current financial position and business outlook. Andrew Markese, Autoscope Technologies Interim CEO, expressed satisfaction with the decision, highlighting the company's adequate capital resources to meet its business needs.
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Autoscope Technologies Corporation (AATC) has announced the 2024 Annual Meeting of Shareholders to be held on February 8, 2024, as a completely virtual meeting. The record date for shareholder entitlement is January 17, 2024. Proxy materials will be delivered over the Internet.
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Autoscope Technologies Corporation (AATC) announced the retirement of Frank G. Hallowell, the Interim CEO, CFO, and Corporate Secretary, with Andrew Markese being promoted to President and CEO of ISNS and Interim CEO of AATC. Lori Schug has been promoted to CFO and Corporate Secretary of AATC and ISNS. The company has achieved financial stability and is well positioned for growth and diversification.
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Autoscope Technologies Corporation (AATC) announces a $0.13 per share quarterly cash dividend. The sale of the RTMS radar detection product line to Sensys Networks, Inc. has resulted in the discontinuation of those operations. Third-quarter 2023 saw increased demand for Autoscope Vision, driving higher royalty revenue. Net income for the third quarter of 2023 totaled $1.5 million, an increase of $0.9 million compared to the same period in the prior year. Year-to-date 2023 saw a 72% increase in revenue compared to the same period in 2022, with net income totaling $3.4 million. Cash and cash equivalents increased to $3.3 million, an increase of 176% from December 31, 2022.
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FAQ

What is the current stock price of AUTOSCOPE TECHS (AATC)?

The current stock price of AUTOSCOPE TECHS (AATC) is $8.01 as of November 20, 2024.

What is the market cap of AUTOSCOPE TECHS (AATC)?

The market cap of AUTOSCOPE TECHS (AATC) is approximately 43.7M.

What are the primary products of Autoscope Technologies Corporation?

Autoscope Technologies Corporation's primary products include the Autoscope® video detection family and the RTMS radar detection family.

How did Autoscope Technologies Corporation perform financially in 2023?

The company reported a net income from continuing operations of $4.5 million, a significant increase from $149,000 the previous year, driven by strong demand for Autoscope Vision and strategic realignments.

What strategic changes did Autoscope Technologies Corporation undertake in 2023?

The company sold its RTMS radar detection product line to Sensys Networks, Inc., enabling a focused investment in video detection technology. Additionally, it completed a planned workforce reduction to enhance operational efficiencies.

What is Autoscope IntelliSight?

Autoscope IntelliSight is a new product introduced by Autoscope Technologies, reflecting their commitment to innovation in video detection technology.

How has Autoscope Technologies Corporation rewarded its shareholders?

The company has consistently paid quarterly dividends and declared a special one-time cash dividend of $1.32 per share in early 2024.

What factors contributed to the increase in royalties in 2023 for Autoscope Technologies Corporation?

The increase in royalties was primarily due to higher sales and market demand for Autoscope Vision in North America, supported by the Bipartisan Infrastructure Law and the SS4A program.

Where is Autoscope Technologies Corporation headquartered?

Autoscope Technologies Corporation is headquartered in Minneapolis, Minnesota.

What financial strategies has Autoscope Technologies Corporation employed to enhance its cash position?

The company's cash balance increased significantly through strategic investments in securities, sales of debt securities, and operational efficiencies, reaching $6.5 million by the end of 2023.

What market trends are supporting the growth of Autoscope Technologies Corporation?

Market trends include the increasing demand for video detection and data analytics solutions in North America, spurred by government funding programs like the Bipartisan Infrastructure Law and the SS4A program.

How does Autoscope Technologies Corporation contribute to Intelligent Transportation Systems (ITS)?

The company develops and delivers above-ground detection technology and solutions, providing real-time data and analytics to ITS professionals to improve road safety and efficiency.

AUTOSCOPE TECHS CORP

OTC:AATC

AATC Rankings

AATC Stock Data

43.65M
3.25M
0.06%
Scientific & Technical Instruments
Technology
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United States of America
Minneapolis