Thursday, August 07 11:04:58
Irish-based, Wall St listed global provider of mobile workforce solutions, Fleetmatics, today posted revenues for the second quarter that rose 30pc on the year thanks to growing sales.
Total revenues were $55.3 million compared to $42.5 million for the second quarter of 2013, it said.
GAAP gross profit for the second quarter was $40.7 million, compared to $31.7 million for the second quarter of 2013. GAAP gross margin was 73.7pc compared to 74.5pc for the same period in 2013. Non-GAAP gross profit, which excludes share-based compensation and amortization of intangible assets, was $41.2 million for the quarter compared to $31.8 million in the year ago period. Non-GAAP gross margin was 74.5pc for the second quarter of 2014, compared to 74.9pc during the same period last year.
"We are pleased to report another solid quarter and a great first half of the year, growing our revenues by 30pc and our subscriber base by 29pc year-over-year, while continuing to be a market leader in the fleet management space," stated Jim Travers, Chairman and Chief Executive Officer of Fleetmatics. "During the quarter, our ability to meet or exceed our revenue and profitability expectations was driven by solid execution by our team, particularly to SMB customers. The combination of the recent introduction of our new platform, new product offering, and our international expansion positions Fleetmatics to increase market share worldwide."
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