Fleetmatics Revenue Up 28%; 331,000 Vehicles Monitored

Fleetmatics Revenue Up 28%; 331,000 Vehicles Monitored
Irish Fleet management systems vendor Fleetmatics published last week its financial results for the Fourth quarter of 2012 that show a total revenue of $35.8 million, an increase of 38% year on year. Preliminary GAAP net income for the fourth quarter was $4.1 million, compared to $1.1 million for the same period last year.

Full Year 2013 Guidance: Total revenue is expected to be in the range of $162.5 million to $164.5 million, which represents growth of 28% year-over-year at the midpoint.

Fleetmatics ended the fourth quarter of 2012 with 331,000 active vehicles under subscription, up 40% compared to 237,000 during the fourth quarter of 2011.

Fleetmatics became a public company in October 2012.

Monday, April 22nd 2013

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