Fleetmatics’ revenues up almost 40pc to US$177.4m

21 Feb 2014

Jim Travers, chairman and chief executive officer of Fleetmatics

Dublin-headquartered and New York Stock Exchange-listed cloud and mobile technology player Fleetmatics has reported a 39.2pc increase in 2013 revenues of US$177.4m. The company has embarked on an expansion into Mexico, Australia and the Netherlands.

The fleet-management software company’s total revenue for the fourth quarter was US$50.1m, an increase of 39.8pc compared to US$35.8m for the fourth quarter of 2012.

Net income for the fourth quarter was US$16.2m, compared to US$4.6m for the same period last year. The company saw 34pc growth in vehicles under subscription, now totalling more than 445,000 subscribed vehicles and about 22,000 customers.

During 2013, more than 4,000 new customers signed up to Fleetmatics, and its subscriber base collected 4.8bn data points.

“The fourth quarter marked a strong finish to the year, driven by continued market demand and the strong value proposition of our comprehensive software-as-a-service fleet-management solution to SMBs,” said Jim Travers, chairman and chief executive officer of Fleetmatics.

“During 2013, we successfully executed our strategy and extended our leadership position, as evidenced by the strong growth in the number of new customers, increased sales to existing customers, geographic expansion, and the introduction of new features.

“Looking forward, we believe Fleetmatics remains well positioned to further grow market share driven by our continued commitment to innovation and expanding our global reach,” Travers said.

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