@Track Communications reported a loss of $5.3 million for fourth quarter 2000, compared to a loss of $5.9 million for fourth quarter 1999.
@Track, based in Richardson, Texas, provides wireless-based vehicle fleet management and intelligent mobile-asset-tracking solutions.
Revenues for the fourth quarter were $29.8 million compared with $16.3 million. For the full year, revenues were $102.1 million versus $95.7 million for 1999. Net loss for the year was $20.5 million versus a loss of $11.5 million for 1999.
However, the company said that direct financial comparisons to years prior to 2000 are not meaningful because of an accounting change required by the Securities and Exchange Commission. Fourth quarter results, said President and CEO Jana Ahlfinger Bell, were in line with company expectations.
Fourth quarter product revenue was $15.8 million, versus $3.2 million for fourth quarter 1999. Service revenue was $12.2 million versus $13.1 million, primarily due to lower average revenue per mobile unit as an increasingly larger number of regional service vehicle units were place in operation. Total installed base as of December 31 was 67,335 mobile units, up 32.5% from the end of 1999.
@Track, based in Richardson, Texas, provides wireless-based vehicle fleet management and intelligent mobile-asset-tracking solutions.
Revenues for the fourth quarter were $29.8 million compared with $16.3 million. For the full year, revenues were $102.1 million versus $95.7 million for 1999. Net loss for the year was $20.5 million versus a loss of $11.5 million for 1999.
However, the company said that direct financial comparisons to years prior to 2000 are not meaningful because of an accounting change required by the Securities and Exchange Commission. Fourth quarter results, said President and CEO Jana Ahlfinger Bell, were in line with company expectations.
Fourth quarter product revenue was $15.8 million, versus $3.2 million for fourth quarter 1999. Service revenue was $12.2 million versus $13.1 million, primarily due to lower average revenue per mobile unit as an increasingly larger number of regional service vehicle units were place in operation. Total installed base as of December 31 was 67,335 mobile units, up 32.5% from the end of 1999.
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