Fleetmatics’ revenues rocket almost 40pc to US$42.5m

8 Aug 2013

Irish NYSE-listed software-as-a-service (SaaS) player Fleetmatics has reported an increase in revenues of US$42.5m, compared to US$30.6m during the second quarter of last year.

The global provider of fleet management software and services reported a net income for the second quarter of US$5.7m, compared with a loss of US$1.4m a year ago.

The company’s operating income was US$8.6m, compared with US$1.1m last year.

The Dublin-headquartered company provides web-based solutions for fleet operators with visibility into vehicle location, fuel usage, speed and mileage, as well as other insights into the performance of their mobile workforce.

The company services 19,000 customers with 388,000 subscribed vehicles worldwide.

“We are very pleased with our strong execution during the second quarter, which was highlighted by the ongoing robust demand for our comprehensive fleet management solution,” stated Jim Travers, CEO of Fleetmatics.

“Our ability to transform vehicle and driver behavioural data into actionable intelligence for our SMB customers resulted in subscription growth, revenue and profitability that were above our expectations.

“Looking forward, we have entered the second half of the year with strong momentum and remain in position to grow market share worldwide by acquiring new customers, increasing sales to existing customers, entering new geographies and introducing new features,” Travers said.

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John Kennedy is a journalist who served as editor of Silicon Republic for 17 years