Fleetmatics Group Q3 Profit Rises, Lifts 2014 Outlook - Quick Facts

(RTTNews) - Fleetmatics Group plc (FLTX) reported that third-quarter net income increased to $8.20 million or $0.21 per share from $5.58 million or $0.15 per share in the year-ago quarter.

Excluding items, adjusted net income for the quarter was $11.26 million or $0.29 per share, compared to $9.27 million or $0.25 per share in the prior-year quarter. On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 30.5 percent to $60.42 million from $46.31 million in the year-ago period, while nine analysts had a consensus revenue estimate of $58.86 million for the quarter.

Looking ahead to the fourth quarter, Fleetmatics expects adjusted earnings in a range of $0.29 to $0.30 per share, on projected revenues between $63.5 million and $64.5 million. Analysts expect the company to report earnings of $0.27 per share for the quarter on revenue of $62.75 million.

For fiscal 2014, the company raised adjusted earnings guidance to a range of $0.95 to $0.96 per share from the prior range of $0.82 to $0.87 per share. Revenue is currently forecast between $231.0 million and $232.0 million, up from the previous guidance between $228.0 million and $230.0 million.

Street is currently looking for full-year 2014 earnings of $0.85 per share, on annual revenues of $228.80 million.