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Old 1 Week Ago
flylow7f39 flylow7f39 is offline
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Default Verra Mobility (American Traffic Solutions) Returns To Profitability

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The speed camera firm formerly known as American Traffic Solutions reports its first profitable quarter, though $1 billion in debt remains.

"When American Traffic Solutions (ATS) merged with a toll road firm to become Verra Mobility last year, it incurred heavy losses. The newly combined entity reported a loss of $58 million last year, largely as a result of merger-related expenses and the cost of financing $1 billion in debt. The firm on Thursday reported that it made $2.8 million in the last quarter, marking a return to profitability for the Arizona-based tolling and ticketing firm."


"Toll road revenue, by contrast, grew a more robust 22 percent over the same period, driving the firm's bottom line into positive territory. For the good financial performance, CEO David Roberts rewarded himself with $20,261,326 in compensation last year. Chief Financial Officer Patricia Chiodo took home $10,053,849. Executive Vice President Jonathan Routledge, who left at the beginning of the year, walked away with $6,057,126."
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