Fleetmatics fourth-quarter revenues climb to $77.2m

Fleetmatics, the Dublin-based provider of GPS-based fleet management systems, has reported fourth quarter revenue of $77.2 million. This is an increase of 21 per cent compared to $64 million for the fourth quarter of 2014.

Adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) amounted to $29 million, or 37.5 per cent of total revenue.

The Tallaght-headquartered company said total revenue for 2015 was $284.8 million, an increase of 23 per cent compared to $231.6 million for 2014.

Adjusted ebitda for 2015 was $96.2 million, an increase of 30 per cent compared to $73.9 million for 2014.

"Looking ahead, we remain very well positioned to leverage several major trends reshaping the technology landscape including the proliferation of the internet of things (IoT), the widespread adoption of mobility, the migration to SaaS-based solutions and the growth of Big Data," Fleetmatics chief executive Jim Travers said.

The company also announced it had exceeded 700,000 active vehicles under subscription, adding more than 157,000 vehicles in 2015.

Fleetmatics develops and sells fleet-management software to some 24,000 small and medium-sized businesses across multiple industries. Its technology tracks the location of vehicles and gives fleet operators a host of information on fuel use, speed, mileage, delivery times and so on.

The Tallaght-based company successfully floated on the New York Stock Exchange in an initial public offering (IPO) that raised $132 million in 2012.

It currently employs more than 600, about 100 of which are based in Dublin, where the firm maintains its core intellectual property development.