Aftermarket

Xata Swings to Loss Despite Revenue Growth

May 06, 2010

SHARING TOOLS        | Print Subscribe
Software provider Xata Corporation swung to a loss of $402,000 in the second quarter of fiscal year 2010, compared to net income of $91,000 in the 2009 quarter, despite a revenue boost over the year-ago period and the addition of 42 new customers.


Xata reported revenue of $18.1 million for the quarter from $16.9 million for the same period of fiscal 2009. The company said revenue growth was driven by a 35 percent rise in total software revenue, which accounted for 63 percent of total revenue compared to 50 percent for the same period of fiscal 2009.

"The second quarter represented a very strong software quarter for us," said Jay Coughlan, chairman and president of Xata. "Our ability to continue to renew existing customers and our ability to acquire new customers through our Xatanet and new Turnpike platforms drove our software growth."

The company said it incurred additional costs associated with Turnpike Global Technologies, which it acquired in late 2009.

"The performance of our existing software business and the addition of Turnpike's software stream drove a 2 percentage point increase in our software margins and allowed us to improve operating income performance," said Mark Ties, chief financial officer of Xata.



Comment On This Story

Name:  
Email:  
Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

Newsletter

We offer e-newsletters that deliver targeted news and information for the entire fleet industry.

GotQuestions?

ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All