{"id":49064,"date":"2013-11-07T09:42:22","date_gmt":"2013-11-07T07:42:22","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=49064"},"modified":"2013-11-07T10:14:06","modified_gmt":"2013-11-07T08:14:06","slug":"mix-subscribers-up-28","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/49064\/mix-subscribers-up-28\/","title":{"rendered":"MiX subscribers up 28%"},"content":{"rendered":"

MiX Telematics<\/a>, a JSE and NYSE-listed vehicle tracking solutions provider, has seen its total vehicles under subscription ramp up 28% to 404,000 in\u00a0interim financial results for the period ended September 30, 2013.<\/p>\n

Previously, MiX said it had 376,900 subscribers at June 30, 2013.<\/p>\n

Total revenue climbed 9% to R613 million, from $60.7 million, while\u00a0subscription revenue improved 24% to R401 million.<\/p>\n

Operating profit for the six month period climbed to R80.27 million, from R76.35 million in 2012.<\/p>\n

In August 2013, the company raised R650 million ($65.5 million) in proceeds before expenses through the initial public offering of ADRs on the New York Stock Exchange.<\/p>\n

“We are pleased to report strong second quarter results, which were highlighted by 25% subscription revenue growth and\u00a0over 27,000 subscriber additions that pushed our total subscriber base over the 400,000 milestone, said Stefan\u00a0Joselowitz<\/a>, CEO of MiX Telematics.<\/p>\n

“Adoption of both fleet and consumer products is increasing in our\u00a0target markets, and MiX Telematics is well positioned to be a prime beneficiary of growth opportunities as we have already\u00a0achieved meaningful scale, built a global distribution network, and offer scalable, state-of-the-art solutions that yield\u00a0a powerful return on investment.”<\/p>\n

Looking ahead, MiX said that for the third quarter of fiscal year 2014, it expects subscription revenue to be in the range of R209 million\u00a0to R214 million ($20.6 million to $21.1 million) which would represent subscription revenue growth of 19% to 22%
\ncompared to the third quarter of fiscal year 2013.<\/p>\n

The forecast\u00a0takes into account growth rates achieved previously.<\/p>\n

More on MiX<\/h3>\n

MiX Telematics riding a growth wave<\/strong><\/a><\/p>\n

MiX Telematics subscriber base soars<\/strong><\/a><\/p>\n

MiX Telematics sees 30% subscriber growth<\/strong><\/a><\/p>\n

MiX Telematics stealing a march on Altech?<\/strong><\/a><\/h3>\n

Mix Telematics hits R1bn sales barrier<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MiX Telematics has seen its total vehicles under subscription ramp up 28% to 404,000 in interim financial results for the period ended September 30.<\/p>\n","protected":false},"author":10,"featured_media":12449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[26,2809],"class_list":["post-49064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-headline","tag-mix-telematics"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/49064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=49064"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/49064\/revisions"}],"predecessor-version":[{"id":49076,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/49064\/revisions\/49076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/12449"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=49064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=49064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=49064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}