Paul100, you've certainly done your homework over the last year...

Paul100, you've certainly done your homework over the last year or two. Congratulations.
This is a stock that will handsomely repay a lot of time spent digging around to ascertain the true position of the company, the quality of the management, the prospects particularly of the Traffic division and the overall prospects of their main market in the US.

The US is about 10 years behind Australia in this actual technology and also about the same time behind in implementing the technology. So perhaps it is logical for an Australian company to take market leadership.
Three or four years ago there were only about 6 states in the US with legislation allowing red light cameras, now there are about 25.

The previous market leader in the US, now owned by ACS, is now rather tired and falling behind mainly because they have stuck with the old wet film technology as distinct from the Redflex digital technology. Redflex has taken business from them including Chicago in a head to head trial.

With red light camera installations alone Redflex will have a very profitable business in the US as will become very evident this year, all great "click" revenue from long term contracts with first class local government clients. The extra special blue sky in the US is in speed cameras, virtually untapped as yet and once again at least 10 years behind Australia. Good sense must prevail eventually with public pressure on the politicians to introduce speed legislation in the vast majority of states that do not have suitable legislation.

The Redflex red light cameras are already speed capable, I think this is probably how speed camera legislation will first spread. That is the combined red light/speed camera installations will be used to control both red light running and speeding at intersections as even the rednecks do not have much of a case to argue for their rights to speed through intersections particularly as the trigger would probably be set at about 10mph over the speed limit.
Redflex was the first company in the US to install combined red light/speed cameras at intersections. These combined Redflex cameras are operational at several sites in the US, they work on all phases of the light and the number of speed infringements resulting are usually well in excess of the red light infringements.

If someone wants to do some homework that's just a start.