Mobile communications and asset tracking provider AirIQ Inc. last week reported financial results for the 3rd quarter ended Sept. 30.

According to the release, revenues increased 273.7% and gross profit rose 186.1% compared to the three months ended Sept. 30, 2003.
Over the first nine months, revenue and gross profit improved by 110.4% and 81.3% respectively in comparison to the same period in 2003.
"The third quarter represented a transformative and exciting phase of development at AirIQ, having accomplished virtually all of the objectives we set this year," explained Donald Simmonds, president and CEO. "With the acquisition of the Aircept business on June 25, 2004, the running rate revenues of the company have tripled. On Oct. 14, 2004, we completed the acquisition of the Boatracs business. In just four months, AirIQ has strengthened its position as a leader in the rapidly growing North American Telematics business. Additionally, the launch of the MobileIQ consumer solution creates an exciting opportunity for the company's future and along with a contract with LoJack for its private labeled brand, we have completed a particularly notable period of achievement."