XATA Corp., the Minneapolis-based developer of onboard fleet management systems for private fleet transportation has announced that its XATANET subscriber base grew 192% through the third quarter of fiscal 2005.
This growth, which includes the deployment of approximately 400 units of the 5,500 unit contract the company was awarded in June 2005, led to an increase in XATANET system sales of 185% through the third quarter of fiscal 2005.
In addition, deferred revenue increased 130% on a year-over-year basis, to $7.6 million at the end of the third quarter of fiscal 2005, compared to $3.3 million at the end of the third quarter of fiscal 2004, primarily due to XATANET system sales.
System revenue associated with XATANET is recognized over the initial term of each subscription rather than fully at the time of delivery. XATANET subscription terms currently range from one to six years.
"This quarter represents the fourth consecutive quarter of sequential growth in XATANET sales," stated Craig Fawcett, XATA president and chief executive officer. "This trend is the result of our stated strategy to capitalize on our proven success with our Fortune 1,000 customer base by aggressively taking a Web-based system to the broader private fleet market -- a market with 10 times greater sales potential."
This growth, which includes the deployment of approximately 400 units of the 5,500 unit contract the company was awarded in June 2005, led to an increase in XATANET system sales of 185% through the third quarter of fiscal 2005.
In addition, deferred revenue increased 130% on a year-over-year basis, to $7.6 million at the end of the third quarter of fiscal 2005, compared to $3.3 million at the end of the third quarter of fiscal 2004, primarily due to XATANET system sales.
System revenue associated with XATANET is recognized over the initial term of each subscription rather than fully at the time of delivery. XATANET subscription terms currently range from one to six years.
"This quarter represents the fourth consecutive quarter of sequential growth in XATANET sales," stated Craig Fawcett, XATA president and chief executive officer. "This trend is the result of our stated strategy to capitalize on our proven success with our Fortune 1,000 customer base by aggressively taking a Web-based system to the broader private fleet market -- a market with 10 times greater sales potential."
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