Redflex Earnings Disappoint, Shares Tumble

Redflex Holdings, (RDF:ASX), everyone’s favorite scamera company, just dropped some pretty awful forecasts to its shareholders in a release to the Australian Securities Exchange. Citing major issues with collection and “infringement detection,” the operations in Arizona were all but called a flop.

Redflex says the problems won’t get any better in the coming months. Quoted from the release, “the net profit before tax result for the first half of the 2010 financial year is expected to be lower than the result for the previous corresponding period.”

In simpler terms, Redflex is expecting their earnings to drop next year as compared to this year. 2010 is shaping up to be a tough year for them, which doesn’t come as a surprise to anyone who has ignored a photo radar ticket. You can’t make money if people aren’t paying for your services and people won’t pay if they know you are trying to scam them.

Shareholders didn’t like the news much, as shares of the company dropped 10% in early trading Wednesday on the Aussie Exchange. Arizona is turning out to be an “expensive failure” for the company, which led to the ouster of its chairman and two directors in November.

Year to date, Redflex common stock is down 35%. They are truly “in the red” for 2009.

24 Responses to Redflex Earnings Disappoint, Shares Tumble

  1. Matt says:

    GOOD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! EAT SHIT REDFUX!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  2. Great! Maybe another person will damage their equipment as well!

    • Hellsing says:

      I’m surprised we don’t have a bunch of burned cameras like what happens in England. This type of report makes me wanna go out in a santa suit and gift-wrap all the cameras so as to improve the corporate bottom line! 😉

  3. Frankie says:

    It is pronounced Red fleece

  4. Steve says:

    Now that the cat is out of the bag about not having to pay or face the penalties threatened in the arraignment notice, it’s going to get a lot worse for Redflex. As people started ignoring the arraignment notices, they even recently took the word “Arraignment” off of the notice all together, to make it more difficult for people to identify what the purpose of going to court would actually be with regard to the notice, even when the court records show these court dates as an arraignment date and not something else.

    That’s what the state, Redflex, and DPS gets for commiting fraud by giving false legal advice to trick people in to thinking that the threats apply to the mailed notice, and that doesn’t actually apply to any notice that arrices in the mail. Don’t forget also that our state Legislators and DPS are a part of that fraud against the people.

  5. Dr Jett says:

    Now is the time to take advantage of all of the problems at Redflex by stepping up the petition drive. Since Redflex is already on the ropes, now is the time to strike the fatal blow and free America from these foreign terrorists.
    Gathering signatures for our petition to end photo radar in 2010 is the best way to stop this tyranny by our government and foreign corporations. This is how you cut off the head of the snake. If you want to REALLY stand up for FREEDOM, then don’t just sign up for camerafraud. Put your actions behind your beliefs and step up to the plate. Demonstrations and petition gathering are great fun. Show Redflex that you have enough guts to stand up for your country. The war against terrorism isn’t in Iraq or Afganistan as much as it is here fighting against the legislators and courts that steal our freedom. Our government is terrorizing the citizens by tracking us 24/7 and using the court system to beat us down illegally. Join the for $35 yr and learn about the Federal Laws that govern the nations highways. They have the information about how to beat all traffic tickets. Redflex only wins by citizen apathy.

  6. Glyph says:

    Gathering signatures is certainly important, but I do enjoy watching Redflex lose their a$$!

  7. Lane D. says:

    Dear Redflex,

    I am one of those people who has avoided your photo radar tickets. I am one of the reasons you are going out of business.

    I just want you to know it warms the cockles of my heart that I have contributed to your surmounting financial woes. I can only hope that I have yet further opportunities to deny you your ill gotten gains.

    One day when your company has gone out of business and you are unable to feed your family I hope you think of me.


  8. oH Boy says:

    Just saw the article on their winning a very large contract to set up lots of Scameras in Ireland. Their losses should be awsome as the Irish people are very vocal and are not known for giving up their rights and liberties without a fight.

    • Brent says:

      This is top-notch..

    • Dr Jett says:

      Reality from the NMA in a video that will help other camerafraud members understand why I joined NMA and recommend it to anyone who wants to protect themselves from the Highwaymen aka DPS and other thieving cops and courts.
      Thanks RPr.

  9. Brent says:

    Merry Christmas from the scumbags at DP$, RedFlex, and AT$:

  10. Tucson Taxpayer says:

    My wife’s car was flashed by one of Tucson’s speed scameras and there was not even a picture of the “DRIVER” as the face was hidden behind the sunvisor and they still sent a scam fine to one of the registered owners of the car. (The car is in both our names) We had some good laughs with the serious sounding letter and then we just ignored it. They came to our house at least four times to try to serve us papers and we think now they have given up. All vehicles at our home are in the garage so that makes the job for these bastards even harder!

    • Typically the process server is NOT the bad guy.

      There is however an interesting story about a process server in Tucson that should be coming out soon. Stay tuned.

      If they do eventually serve you, the lack of an identifiable driver should help your cause.

  11. Tucson Taxpayer says:

    Just wanted to follow up on your reply; When I say Bastards I am not singling just the process server. I am referring to the corporation as a whole, though I have friends and co-workers who have been served and the process servers are not the friendliest group of people to deal with. The point is they are ticketing cars and not drivers. I have read in some states it doesn’t matter who was driving, the car owner has to pay the fine.

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