This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TeleNav Reports Fourth Quarter And Fiscal 2010 Financial Results

  • Quarterly revenue increased 10 percent sequentially, 45 percent year over year, to $49.5 million with annual revenue growth of 54 percent to $171.2 million
  • Average monthly paid subscribers for the fourth quarter reached 16.1 million, up from 14.5 million in the prior quarter

SUNNYVALE, Calif., July 29, 2010 (GLOBENEWSWIRE) -- TeleNav, Inc. (Nasdaq:TNAV), a leading provider of location-based services, or LBS, including voice guided navigation on mobile phones, autos and enterprise LBS, today announced its financial results for the fourth quarter and fiscal year ended June 30, 2010.

Financial Highlights

  • Record revenue for the fourth quarter of fiscal 2010 grew 45 percent over the prior year to $49.5 million.
  • Net income for the fourth quarter of fiscal 2010 grew 3 percent over the prior year to $10.6 million.
  • Record revenue for fiscal 2010 grew 54 percent year over year to $171.2 million.
  • Record net income for fiscal 2010 grew 40 percent year over year to $41.4 million.
  • Cash generated from operations for the fourth quarter of fiscal 2010 was $24.7 million.
  • Average monthly revenue per end user (ARPU) for the fourth quarter of fiscal 2010 decreased 13 percent over the fourth quarter of fiscal 2009 to $1.03.
  • Average monthly paying end users for the fourth quarter of fiscal 2010 increased 69 percent year over year to 16.1 million.
  • Completed initial public offering in May 2010 with approximately $44.6 million in net proceeds to TeleNav, after underwriting commissions and discounts and offering expenses.  

"In our first quarter as a public company, TeleNav is pleased to report solid financial results for the fourth quarter and fiscal 2010," said HP Jin, president, CEO and co-founder of TeleNav. "During fiscal 2010, TeleNav substantially increased its subscriber base and expanded its partnership with Ford Motor Company, paving the way for growth in our in-dash navigation segment. More recently, TeleNav expanded its U.S. carrier base with the addition of U.S. Cellular, the nation's sixth largest wireless carrier."

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
TNAV $8.17 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs