Fleetmatics Announces Second Quarter 2013 Vehicles Under Subscription And Estimated Results

Fleetmatics Group PLC (NYSE: FLTX), a leading global provider of fleet management solutions for commercial fleet vehicles delivered as software-as-a-service (SaaS), today announced its vehicles under subscription and estimated revenue, estimated GAAP net income and estimated Adjusted EBITDA for the second quarter ended June 30, 2013.

Fleetmatics’ total vehicles under subscription as of June 30, 2013 were 388,000, an increase of 38.1% compared to 281,000 as of June 30, 2012 and an increase of 9.0% compared to 356,000 as of March 31, 2013. In addition, for the three months ended June 30, 2013, the company currently estimates:
  • Revenue between $42.0 million and $42.5 million, an increase of 37.3% to 38.9% compared to $30.6 million for the second quarter of 2012 and an increase of 9.4% to 10.7% compared to $38.4 million for the three months ended March 31, 2013.
  • GAAP net income between $5.0 million and $5.5 million compared to a net loss of $1.4 million for the second quarter of 2012 and an increase of 66.7% to 83.3% compared to net income of $3.0 million for the three months ended March 31, 2013.
  • Adjusted EBITDA between $13.3 million and $14.0 million, an increase of 125.4% to 137.3% compared to $5.9 million for the second quarter of 2012 and an increase of 19.8% to 26.1% compared to $11.1 million for the three months ended March 31, 2013.

Fleetmatics’ consolidated financial statements for the three months ended June 30, 2013, its second fiscal quarter, are not yet available. Fleetmatics’ expectations with respect to its unaudited results for the three months ended June 30, 2013 as set forth above are based upon management estimates and are the responsibility of the company. The company’s independent registered public accounting firm, PricewaterhouseCoopers LLP, has not audited, reviewed, compiled or performed any procedures with respect to this preliminary financial data and, accordingly, PricewaterhouseCoopers LLP does not express an opinion or any other form of assurance with respect thereto. This summary is not meant to be a comprehensive statement of Fleetmatics Group's unaudited financial results for the three months ended June 30, 2013 and its actual results may differ from those provided above.

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