MiX Telematics Full-Year Earnings Up - Quick Facts

(RTTNews) - MiX Telematics Ltd. (MIXT), a provider of fleet and mobile asset management solutions, Thursday reported a rise in earnings as well as revenues for the year ended March 31, 2014.

Earnings increased to $14.31 million from $12.12 million a year earlier. Earnings per share were $0.02, flat with last year. Diluted weighted average ordinary shares in issue were 768.3 million, compared with 674.8 million last year.

Earnings per American Depository share increased to $0.47 from $0.45 a year ago.

On average, 2 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.42 for the quarter. Analysts' estimates typically exclude one-time items.

Annual revenues advanced to $120.02 million from $110.57 million a year earlier. Subscription revenue grew to $80.6 million from $64.8 million last year.

For the fiscal year 2015, the company expects adjusted earnings per diluted ADS of 40 to 42 U.S. cents on revenues of $129.9 million to $132.2 million.

Separately, the company said it appointed Skip Kinford as president and chief executive officer of the MiX Americas business. Kinford previously worked as executive vice president for U.S.-based inthinc Technologies.