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Recent Growth Propels Fleetmatics To The 'very Top' Of The Fleet Management Technology Market

Stocks in this article: FLTX

DUBLIN and BOSTON, May 28, 2014 /PRNewswire/ -- Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS), today announced that leading industry analyst firm ABI Research has recognized the company as the fleet management technology market leader in terms of vehicle market share.

Fleetmatics Logo.

"The stellar growth of Fleetmatics is quite unique in a commercial telematics market that has been characterized by an overall healthy and stable but unspectacular enterprise-type market development," said Dominque Bonte, VP and Practice Director, ABI Research. "The commercial telematics market, and Fleetmatics in particular, is delivering on its potential for those companies brave enough to take up the challenge of being customer and service minded, adopting next-generation technologies, and looking beyond their own borders."

Fleetmatics continued its strong growth in the first quarter of 2014, bolstering its market leadership position. With approximately 23,000 customers, Fleetmatics posted quarterly revenues of $51.9 million, a 35% year-over-year increase, along with healthy profitability. The company grew the number of active vehicles under subscription to 472,000, a 33% year-over-year increase from 356,000 at the end of the first quarter of 2013. "This propels Fleetmatics to the very top of the fleet management league," said Bonte.

"It's gratifying to be recognized by ABI Research for leadership in our market, which is due to the hard work of our team across the board – from the advanced and unique product innovation from our development team to our award-winning customer service organization to strong sales and marketing," said Jim Travers, Fleetmatics Chairman and CEO. "We are well-positioned to continue our strong growth and market leadership having recently announced entrance into Australia, The Netherlands, Mexico and mainland Europe and by continuing to provide the most advanced product available through our recent launch of a new technology platform and increasingly feature- rich products."

About Fleetmatics Group PLC Fleetmatics Group PLC is a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). Our solutions enable businesses to meet the challenges associated with managing local fleets, and improve the productivity of their mobile workforces, by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data.

Fleetmatics Group's intuitive, cost-effective Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. An integrated, full-featured mobile workforce management product provides additional efficiencies related to job management by empowering the field worker and speeding the job completion process - quote through payment. Fleetmatics serves approximately 23,000 customers, with over 472,000 subscribed vehicles worldwide.

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