Init Innovation in Traffic Systems AG reported earnings results for the third quarter and nine months ended Sept. 30, 2015. For the quarter, the company reported revenue of EUR 26.1 million compared to EUR 25.7 million reported in the same period of the previous year. Operating earnings before interest and taxes (EBIT) came in at only EUR 2.4 million in the third quarter against EUR 3.7 million reported last year. Net profit recorded as at 30 September 2015 around EUR 4.0 million or EUR 0.40 per share.

Over the first nine months, init group has achieved revenue growth of 5.2% with revenue of EUR 73.2 million compared to EUR 69.6 million reported in the same period of the previous year. For the first nine months, this means EBIT has fallen compared to the previous year to EUR 6.1 million from EUR 10.1 million reported last year. Net profit was EUR 6.8 million or EUR 0.68 per share.

For the full year, the company announced revenue target of between EUR 104 and EUR 110 million, though has to cut its earnings forecasts.