AirIQ Inc., a telematics provider, announces new active subscriber growth of 18,099 units and record total shipments of 24,834 units in the first quarter
ending March 31, 2005.
The active subscriber increase and shipping activity is due to contributions from the company’s five natural markets, namely commercial fleets, consumer, indirect distribution, vehicle finance and marine fleets. Telematics is the name given to information and control messages sent wirelessly to and from vehicles and vessels.
“We have experienced robust subscriber acquisition again in this first quarter, setting a new record for the company,” explains Donald Simmonds, president and CEO of AirIQ. “With minimal change in our operating infrastructure, we are pleased with the overall business performance following our two acquisitions last year. Our key trajectories are right where we want them to be.”
Active subscriber units are those that have been installed in vehicles, are connected to the service infrastructure or are otherwise revenue generating. In periods of strong new shipments, there is often a lag between shipped and active subscriber counts as the distribution and installation processes take effect.
“While first quarter financial results will be released in May, the first quarter of 2005 marked the 23rd consecutive quarter of subscriber growth for AirIQ,” notes CFO Mark Kohler. “We are pleased that some of the top names in our respective industries joined our customer ranks this quarter, including significant subscriber additions of AirIQ’s refrigerated trailer tracking product and services.”
AirIQ, which trades on The Toronto Stock Exchange under the symbol IQ, has headquarters in Pickering, near Toronto, Canada. AirIQ’s services include vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts, plus more features.
For additional information, go to www.airiq.com.