IRD Reports Year End Results

Business Wire, Feb 24, 1998

SASKATOON, SASKATCHEWAN--(BUSINESS WIRE)--Feb. 24, 1998--IRD (TSE:IRD) International Road Dynamics Inc., (IRD) today announced its year end results for fiscal 1997.

Year End Results: (year ended November 30, 1997 compared with the year ended November 30, 1996)

- Revenues were $25.4 million compared with $17.1 million

- Net earnings were $405,061 compared with $846,832

- Net earnings per share were $0.04 basic and $0.04 fully diluted, compared with $0.10 basic and $0.08 fully diluted

The 49 percent increase in sales is the result primarily of increased sales in the Highways division and, secondarily, of the addition of software sales from IRD's Teleride division acquired late in 1996. Positive performance for the Highways division is expected to continue in 1998.

The primary reason for the earnings decline was the higher than anticipated cost of software development made in the Teleride division during 1997. This work took longer than expected and delayed the release of new systems software for the transit industry until late in the year.

Terry Bergan, President and CEO of IRD, said, "he is pleased to see the early acceptance of the Teleride software by public transit commissions and private sector fleet management companies. Teleride technology is used in Toronto, Ottawa, Calgary, Kitchener, London (Ontario), Seattle, and Buffalo.

The outlook for 1998 is for a continuing increase in revenues as the Teleride software gains acceptance and new products are introduced.

IRD is a highway traffic management products and systems technology company which specializes in supplying systems to the world-wide, emerging industry of Intelligent Transportation Systems (ITS). IRD is a North American-based company, with a Canadian corporate office in Saskatoon, Saskatchewan and a U.S. corporate office in Colorado. IRD's products and advanced traffic systems are used by corporations, transportation agencies and authorities around the world.

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

CONTACT: International Road Dynamics Inc.

Amy Heath, 306/653-6603

306/242-5599 (FAX)

303/355-5998 (US)

http://www.ird.ca