TeleNav Reports First Quarter Fiscal 2011 Financial Results
-- Quarterly revenue increased 42 percent year over year to $51.1 million
-- Net income increased 52 percent year over year to $12.4 million
-- Average monthly paid subscribers for the first quarter reached 17.7 million, up from 16.1 million in the prior quarterSUNNYVALE, Calif., Oct. 28, 2010 (GLOBE NEWSWIRE) -- TeleNav, Inc. (Nasdaq:TNAV), a leading provider of location-based services, or LBS, including voice guided navigation and local search on mobile phones, autos and enterprise LBS, today announced its financial results for the first quarter of fiscal 2011 ended September 30, 2010. Financial Highlights
- Revenue for the first quarter of fiscal 2011 grew 42 percent over the prior year to $51.1 million.
- Net income for the first quarter of fiscal 2011 grew 52 percent over the prior year to $12.4 million.
- Cash generated from operations for the first quarter of fiscal 2011 was $20.2 million.
- Average monthly revenue per end user (ARPU) for the first quarter of fiscal 2011 decreased 14 percent over the first quarter of fiscal 2010 to $0.94.
- Average monthly paying end users for the first quarter of fiscal 2011 increased 65 percent year over year to 17.7 million.
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