Tallaght-based Fleetmatics reports higher revenues

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The Tallaght headquartered company Fleetmatics, has reported third quarter revenue of $73.5 million (€67.2m), up 22 per cent on the $60.4 million (€55.2m) reported for the same period a year earlier. 

The Dublin-based provider of GPS-based fleet management systems also announced a 25 per cent rise in subscribers in the third quarter to 655,000 active vehicles, as against 523,000 last year. 

Net income totaled $8.8 million, or $0.22 per diluted share, compared to $8.2 million, or $0.21 per diluted share, for the same quarter in 2014.

The 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.