In MRM applications, we are gaining market share for our products and solutions as we continue to exceed market rates of growth. As in recent quarters, we are experiencing strong customer demand for our core fleet management, trailer tracking, stolen vehicle recovery and vehicle finance offerings.
We continue to focus on increasing our international market penetration, with the Navman Wireless supply agreement further expanding our global footprint. MRM revenue in the first quarter was much higher than we originally projected, primarily due to two large contract wins that have aggressive delivery timelines. The first of these involve initial volume shipments to equip the deliver fleet of a national soft drink company, while the second related to the commencement of shipments to equip the service fleet of a national telecom service provider.
At the end of the first quarter, we had almost 1.5 million MRM devices and service with our customers that are supported by CalAmp’s PULS over the year device provisioning, monitoring and maintenance system, which is up from 1.3 million at the end of the fourth quarter.
First quarter results for our MRM bundled solutions business were within range of our expectations. Our bundled network offerings for the vehicle finance and remote start markets had approximately 280,000 active subscribers on our network at the end of the first quarter compared to 265,000 subscribers at the end of the fourth quarter. This subscriber base provides a recurring revenue stream that currently represents about 10% of our wireless DataCom revenue.Read the rest of this transcript for free on seekingalpha.com
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