OTTAWA, Nov. 29, 2017 /PRNewswire/ - Quarterhill
Inc. ("Quarterhill') (TSX:QTRH) (NASDAQ:QTRH), announced today that
its wholly owned subsidiary, International Road Dynamics Inc.
("IRD"), has been awarded a contract valued at more than US
$3.7 million with the Idaho
Transportation Department ("ITD") to supply and install a Mainline
Electronic Screening System at the Sage Junction Port of Entry.
This system will weigh and measure commercial vehicles at
highway speeds using IRD's Single Load Cell Weigh-In-Motion ("WIM")
scales. Automated License Plate Recognition and Automated
Vehicle Identification systems will work in conjunction with the
WIM to confirm vehicle credentials and weight compliance.
Vehicle information will be gathered and queried against the
IRD intelligent Roadside Operations Computer ("iROC") database.
Decisions will be made in real-time whether vehicles may
bypass weigh stations or report for further inspection.
Notification is provided to the commercial vehicle via an
in-vehicle transponder and roadside signaling.
During peak times, weigh stations often exceed capacity and are
forced to close or allow commercial vehicles to bypass the weigh
station until the backlog of trucks is cleared. By utilizing
IRD's mainline electronic screening and WIM systems, commercial
vehicle enforcement facilities can focus on high-risk vehicles,
allowing compliant carriers with good safety records to bypass.
Not only does this greatly improve the effectiveness of the
facility, but it also provides a considerable benefit to the
trucking industry by reducing weigh station wait times, fuel costs,
and greenhouse gas emissions.
Mr. Terry Bergan, IRD's President
and CEO stated: "Currently, Idaho
employs the IRD iROC
e-screening system at 4 locations throughout the State. This
contract complements IRD's previous deployments in Idaho by further expanding the State's network
of fully automated weigh station facilities. We look forward
to working with ITD on this project."
About IRD
IRD is a highway traffic management technology company
specializing in supplying products and systems to the global
Intelligent Transportation Systems industry. IRD is a North
American company based in Saskatoon,
Saskatchewan, Canada with sales and service offices
throughout the United States and
overseas. Private corporations, transportation agencies and
highway authorities around the world use IRD's products and
advanced systems to manage and protect their highway
infrastructures.
About Quarterhill
Quarterhill is a diversified investment holding company focused
on growing its business by acquiring technology companies in the
Industrial Internet of Things segment across multiple verticals.
Quarterhill targets companies with a broad range of products and
services that capture, analyze and interpret data, and that have
strong financial performance, excellent management teams, strong
intellectual property underpinnings and significant opportunities
to develop long-term recurring and growing revenue streams.
Quarterhill is listed on the TSX and NASDAQ under the symbol
QTRH. For more information: www.quarterhill.com.
Forward-looking Information
This news release contains forward-looking statements and
forward-looking information within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and other United States and Canadian securities laws.
Forward-looking statements and forward-looking information are
based on estimates and assumptions made by Quarterhill in light of
its experience and its perception of historical trends, current
conditions, expected future developments and the expected effects
of new business strategies, as well as other factors that
Quarterhill believes are appropriate in the circumstances. Many
factors could cause Quarterhill's actual performance or
achievements to differ materially from those expressed or implied
by the forward-looking statements or forward-looking information.
Such factors include, without limitation, the risks described in
its February 10, 2017 annual
information form for the year ended December
31, 2016 (the "AIF") and its November
9, 2017 Management's Discussion and Analysis of Financial
Condition and Results of Operations for the 3 and 9 months ended
September 30, 2017 and 2016 (the "Q3
MD&A"). Copies of the AIF and the Q3 MD&A may be
obtained at www.sedar.com or www.sec.gov. Quarterhill recommends
that readers review and consider all of these risk factors and
notes that readers should not place undue reliance on any of
Quarterhill's forward-looking statements. Quarterhill has no
intention, and undertakes no obligation, to update or revise any
forward-looking statements or forward-looking information, whether
as a result of new information, future events or otherwise, except
as required by law.
All trademarks and brands mentioned in this release are the
property of their respective owners.
SOURCE Quarterhill Inc.