Third Quarter 2012 Operating Highlights
- Fleetmatics ended the third quarter of 2012 with 303,000 active vehicles under subscription, up 40% compared to 217,000 during the third quarter of 2011.
- Net churn during the third quarter was negative 2.1% compared to negative 0.6% during the third quarter of 2011. We calculate our net churn for a period by dividing (i) the number of vehicles under subscription added from existing customers less vehicles under subscription lost from existing customers over that period by (ii) the total vehicles under subscription at the beginning of that period. The negative net churn in each period means we added more vehicles from existing customers than we lost from those customers during the particular period.
As of November 8, 2012, Fleetmatics is initiating guidance for the fourth quarter and full year 2012 as follows:
Fourth Quarter 2012 Guidance: Total revenue is expected to be in the range of $34.2 million to $34.7 million. Adjusted EBITDA is expected to be in the range of $9.8 million to $10.6 million. Non-GAAP net income per share is expected to be in the range of $0.17 to $0.18 based on approximately 37.0 million weighted-average diluted shares outstanding. Fleetmatics’ non-GAAP results exclude an estimated $0.8 million of stock-based compensation expense, $0.6 million of intangible amortization, and $0.6 million relating to tax reserves.Full Year 2012 Guidance: Total revenue is expected to be in the range of $125.8 million to $126.3 million. Adjusted EBITDA is expected to be in the range of $31.9 million to $32.7 million. Non-GAAP net income per share is expected to be in the range of $0.54 to $0.55 based on approximately 31.5 million weighted-average diluted shares outstanding. Fleetmatics’ non-GAAP results exclude an estimated $2.7 million of stock-based compensation expense, $2.3 million of intangible amortization, and $2.0 million relating to tax reserves. Quarterly Conference Call Fleetmatics will host a conference call today at 5:00 p.m. EST to review the company's financial results for the third quarter of 2012, its business outlook and other matters. To access this call, dial +1-877-440-5803 (United States), or +1-719-325-4929 (international), with conference ID # 8720744. A live webcast of this conference call will also be available on the investor relations portion of the company’s website at ir.fleetmatics.com, and a replay will be archived on the website as well. A replay of this conference call will also be available through November 22, 2012, by dialing +1-877-870-5176 (United States), or +1-858-384-5517 (international). The recording access code is #8720744.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV