Quarterly revenue up for U.S.-based Global Traffic Network

GTN is headquartered in New York but does all its business outside the U.S. Revenue from its traffic and news reporting business in Australia rose 8%, measured in the local currency (it jumped 49% in U.S. currency, because of the weaker dollar). Canadian revenue grew 1% in local terms and 14% in U.S. dollars. GTN expanded into the UK as of the first quarter of 2009, and that added another $6.1 million in revenue. Overall, Global Traffic Network revenue for its fiscal Q2 (October-December 2009) jumped 84% to $25.6 million. Net income dropped slightly, from $900,000 the previous year to $800,000. That was due to $900,000 in non-cash amortization. GTN’s Bill Yde says revenue is pacing up from all three countries in this current fiscal Q3.

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