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Image Sensing Systems Announces Third Quarter Financial Results
Date:10/30/2008

ST. PAUL, Minn., Oct. 30 /PRNewswire-FirstCall/ -- Image Sensing Systems, Inc. (Nasdaq: ISNS), announced today its financial results for the third quarter ended September 30, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050512/CGISSLOGO)

Net income for the quarter ended September 30, 2008 was $1.2 million ($0.29 per fully diluted share) compared to $1.3 million ($0.34 per fully diluted share) for the same period in 2007. Net income for the first nine months of 2008 was $3.4 million ($0.86 per diluted share) compared to $2.6 million ($0.66 per diluted share) for the same period in 2007.

Revenue for the third quarter was $6.1 million compared to $4.2 million for the same period a year ago, while revenue for the first nine months of 2008 was $18.7 million compared to $9.9 million for the same period a year ago. Revenue from royalties increased 23% to $3.7 million from $3.0 million in the third quarter of 2007 and 31% to $10.0 million from $7.6 million in the first nine months of 2007, reflecting the continued success of our North American distributor, Econolite Control Products, Inc. (ECPI), in selling Autoscope(R) products in the United States and Canada. North American sales, which are sales of RTMS(R) in North America, were $920,000 for the third quarter and $4.5 million for the first nine months of 2008. International sales, which include both Autoscope and RTMS sales outside of North America, were $1.4 million in the third quarter, a 24% increase over $1.1 million in the same period in 2007, and $4.2 million in the first nine months, an 89% increase over $2.2 million in the same period of 2007. Sales of RTMS world- wide for the
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SOURCE Image Sensing Systems, Inc.
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