Fleetmatics Expects To Swing To Q2 Profit

(RTTNews) - Fleetmatics Group plc (FLTX), Monday issued a guidance for the second quarter, and said it expects to post a profit compared to a loss last year.

The company expects second-quarter net income to be between $5.0 million and $5.5 million. This compares to a net loss of $1.4 million reported for the second quarter last year.

The company expects revenue of between $42.0 million and $42.5 million, an increase of 37.3 to 38.9 percent when compared to $30.6 million last year.

Analysts polled by Thomson Reuters currently estimate earnings of $0.16 per share on revenues of $41.01 million for the quarter. Analysts' estimates typically exclude one-time items.

Fleetmatics' total vehicles under subscription as of June 30, 2013 were 388,000, an increase of 38.1% compared to 281,000 as of June 30, 2012.