Redflex Profit In Quicksand (ASX: RDF)

stocksBeleaguered automated ticketing vendor Redflex Traffic Systems is reporting a 9% drop in net profit despite an explosive expansion of their photo radar systems worldwide.

“We have been adversely affected by reduced collection rates on some of our US contracts, write-downs on several contracts that have not been renewed, extended start-up difficulties with a major state-wide speed contract in Arizona and costs in dealing with litigation and legislative issues…”

Of course, this isn’t news to readers of CameraFRAUD, as we reported back around December 2008 how the statewide automated ticketing scheme was running into problems in an article titled “Delays, Technical Problems Plague Redflex Rollout“:

It took the Arizona Department of Public Safety an additional four months to admit that the expansion of the program was “suspended,” and Redflex took until now to start informing their investors as to the sinking ship which is statewide photo radar in Arizona.

No wonder so many shareholders get their news here.

19 Responses to Redflex Profit In Quicksand (ASX: RDF)

  1. Jokn says:

    I do not like camera’s or redflex NAZI SHIT so if we can HIT THEM IN THE POCKET BOOK IE WERE driving 55,45 SAFE just to make there bottom line ZERO ‘0’ AND MAYBE THEY’LL GO AWAY……..

    • except says:

      …you’re assuming the cameras to be accurate.

      You’re also assuming the speed limits won’t be tweaked with.

      And you’re forgetting that 65 is the speed limit on most freeways, not 55 (while most other states set it at 70 on inter-urban freeways).

      • Camera Hater says:

        That’s the problem, Jokn. It doesn’t work like that. The way the “disease” progresses is:
        (1) people get used to the limit and the camera locations (unless mobile and covert).
        (2) Leading “road safety expert” (i.e. academic with his snout in the revenue trough) publishes report saying lower limits would save hundreds of lives.
        (3) Anti car lobbyists yell for lower limits and get lots of media
        (4) Limits come down
        (5) Fines go up
        (6) Increased fine revenue funds more “research”, and massive propaganda campaign justifying lower limits and zero tolerance.
        (return to One)

        Cameras won’t be removed by temporary compliance with the speed limits, however ridiculous. They will be removed by sustained pressure on politicians by We, The People.

        • Ernest T. Bass says:

          well then…. if the enthusiasm by the 1600 plus strong CF members can be used as the measuring stick….. then the cameras are going to be around for quite a long time to come….

          cause the people are not doing anything about them !!!

      • guttersn1pe says:

        You make a good point with the tweaking of speed limits. Companies who profit from the cameras have no interest in people obeying the law. If every single person drove the speed limit, they’d be out of business. So it’s in their best interest to make “adjustments” when certain locations become unprofitable.

        Normally, law enforcement agencies don’t profit directly from their enforcement actions. Therefore, they’re perfectly content to have everyone drive the limit since it doesn’t impact their bottom line. No conflict of interest. DPS has chosen to blur the line between safety and profit.

        Law enforcement should NEVER be a for-profit industry.

  2. brent says:

    They also have lowered the speedlimits on many roadways, in many cases to less than reasonable speeds, which just makes your commute longer also. Redflex should expand their toll-road business to be more competitive with ATS while they still can. ATS may not be a reputable company either, but at least they’re disversified.

    • photoradarscam says:

      It’s no coincidence that on the Phoenix freeway system the speed limit changes from 55 to 65 on more often than the fed prints dollars.

  3. enigmaforever says:

    It is nice to know that Redflex is visiting your web site.

    • Ernest T. Bass says:

      the only time redflex visits here is when they want comic relief !!!

    • Glyph says:

      Of course Redflex visits this site… regularly, daily even.

      Remember the Bar-B-Que & Batteries post back in May? Just a few days later, Redflex cleaned up their back lot, removing the offending items.

      And because they didn’t like it when people drove by and took pictures of their wide-open service bay, Reflex installed a giant black vinyl strip door to block the view from outside.

      Yeah, Redflex (and no doubt DPS, not to mention a few others) is watching this site pretty darn close.

      • Ernest T. Bass says:

        glyph guessing again !!!!

      • who says:

        So should they store propane tanks indoors, against fire regulations?
        Oh yes, black vinyl strips over a delivery door, woo hoo. Nothing more than a method to keep air-conditioning in while a door is open. Just like a freezer in the supermarket. What a scandal.
        Put your tin hat back on.

  4. The future of life under Big Brother:

  5. Bryan R says:

    “extended start-up difficulties with a major state-wide speed contract in Arizona”
    That’s proof that they had planned on a LOT more than just 100 speed cameras, as various authorities have tried to claim as if it was like, “Well, they’re just going to put in 100 and that’ll be it. Don’t worry.”

  6. Jokn says:

    Hey let’s go back to horse and carriage all this shit gives me a big f@#$ headache…..

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