Fleetmatics Group Plc (FLTX) Tops Q4 EPS by 15c; Guides Q1, FY15; Acquires Ornicar SAS

Fleetmatics Group Plc (NYSE: FLTX) reported Q4 EPS of $0.44, $0.15 better than the analyst estimate of $0.29. Revenue for the quarter came in at $64 million versus the consensus estimate of $63.95 million.

Fleetmatics Group Plc sees Q1 2015 EPS of $0.24-$0.26, versus the consensus of $0.29. Fleetmatics Group Plc sees Q1 2015 revenue of $64-65 million, versus the consensus of $66.4 million.

Fleetmatics Group Plc sees FY2015 EPS of $1.26-$1.30, versus the consensus of $1.28. Fleetmatics Group Plc sees FY2015 revenue of $288-290 million, versus the consensus of $289.0 million.

The company also announced the acquisition of Ornicar SAS ("Ornicar"), a SaaS provider of fleet management solutions in France. Based in Grenoble, Ornicar will add approximately 15,000 vehicles under subscription to Fleetmatics' existing installed base. Terms of the transaction, which closed on February 19, 2015, have not been disclosed.

"France stands out as a logical next step for investment as we further expand into mainland Europe and execute our global growth strategy," said Jim Travers, Fleetmatics CEO and Chairman of the Board. "With the acquisition of Ornicar and the French market expertise of the Ornicar team, we are excited to accelerate our presence and brand in a country that we believe offers us one of the largest market opportunities in Europe."

According to a recent report published by industry analyst firm Berg Insight1, France is the largest market for light commercial vehicles in Western Europe, with 5.9 million in use, while penetration of fleet management solutions is one of the lowest, at 13%. Taken together, these dynamics make France an attractive new market for Fleetmatics in Europe.

All Ornicar employees have joined the Fleetmatics team and will be driving sales and support in France for Fleetmatics REVEAL™, a powerful vehicle tracking and business intelligence solution designed to drive savings and improve productivity for virtually any mobile workforce.

"Ornicar has always focused on helping our French customers use the power of easy-to-use fleet management software to run their businesses more effectively and efficiently," said Alexandre Cuny and Christophe Brun, co-founders of Ornicar who will continue as managers at Fleetmatics in France. "Teaming with Fleetmatics, a leader and pioneer in the industry who shares our focus, is a great fit for us. We believe that our experience in the French market combined with the innovative technology and business model of Fleetmatics REVEAL™ will allow us to help virtually any mobile workforce in France save time and improve productivity with a fleet management solution."

For earnings history and earnings-related data on Fleetmatics Group Plc (FLTX) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Movano (MOVE) Misses Q2 EPS by 195c
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c