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Vice President of Investor Relations
Director of Public Relations
Fleetmatics Reports Strong Fourth Quarter and Full Year 2015 Financial Results
Company Raises Outlook for 2016
|||Q4 Revenue of $77.2 million, up 21% year-over-year|
|||Q4 GAAP EPS of $0.32; Non-GAAP1 adjusted EPS of $0.50|
|||Q4 Adjusted EBITDA1 of $29.0 million, or 37.5% of total revenue|
|||Q4 Cash flow from operations of $22.5 million|
|||Active vehicles under subscription increases to 709,000|
Dublin, Ireland and Boston, Massachusetts February 24, 2016 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 financial results for its fourth quarter and full year ended December 31, 2015.
We are delighted to be reporting strong full year results highlighted by record revenue, profitability and free cash flow, said Jim Travers, Chairman and Chief Executive Officer of Fleetmatics. 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. In 2016, we will remain relentlessly focused on extending our leadership in our key markets to take full advantage of these trends for the benefit of our customers and our shareholders.
Results for the Fourth Quarter of 2015
Total revenue for the fourth quarter of 2015 was $77.2 million, an increase of 21% compared to $64.0 million for the fourth quarter of 2014. GAAP net income for the fourth quarter of 2015 was $12.8 million, or $0.32 per diluted share, compared to $12.4 million, or $0.32 per diluted share, for the fourth quarter of 2014. Non-GAAP1 adjusted earnings for the fourth quarter of 2015 was $19.9 million, or $0.50 per diluted share, compared to $17.0 million, or $0.44 per diluted share, for the fourth quarter of 2014. Adjusted EBITDA1 for the fourth quarter of 2015 was $29.0 million, an increase of 20% compared to $24.2 million for the fourth quarter of 2014. Adjusted EBITDA1 margin for the fourth quarter of 2015 was 37.5% compared to 37.7% for the fourth quarter of 2014. As of December 31, 2015, the Company had cash of $177.1 million compared to $189.3 million at September 30, 2015. During the fourth quarter of 2015, the Company generated $22.5 million in net cash from operations and invested $10.6 million in purchases of property and equipment and capitalization of internally developed software, resulting in free cash flow of $11.9 million. During the fourth quarter of 2014, the Company generated $24.2 million in net cash from operations and invested $9.4 million in purchases of property and equipment and capitalization of internally developed software, resulting in free cash flow of $14.8 million.
The following information was filed by Fleetmatics Group Ltd (FLTX) on Wednesday, February 24, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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