{"id":52779,"date":"2014-02-06T10:08:39","date_gmt":"2014-02-06T08:08:39","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=52779"},"modified":"2014-02-06T10:22:22","modified_gmt":"2014-02-06T08:22:22","slug":"mix-telematics-eyes-500000-susbcribers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/software\/52779\/mix-telematics-eyes-500000-susbcribers\/","title":{"rendered":"MiX Telematics eyes 500,000 susbcribers"},"content":{"rendered":"

MiX Telematics<\/a>, a JSE and NYSE-listed vehicle tracking solutions provider, has reported a 26% rise in\u00a0vehicles under subscription to\u00a0428,500, in third quarter results ended December 2013.<\/p>\n

It follows a\u00a028% rise to 404,000 subscribers in the prior quarterly period, from\u00a0376,900 subscribers at June 30, 2013.<\/p>\n

Total subscription revenue of R220 million, grew 25% year over year, MiX said,\u00a0driven primarily by the increase of over 88,000 vehicles under subscription.<\/p>\n

Total revenue advanced 3.8% to R309.8 million, but operating profit declined to R38.4 million, from R42.9 million in 2012.<\/p>\n

“We are pleased to report strong third quarter results, which were highlighted by 25% year over year growth in\u00a0subscription revenue,” said Stefan\u00a0Joselowitz, CEO of MiX Telematics.<\/p>\n

“Our focus on selling fully-bundled deals is paying off as we had an increased number of\u00a0enterprise customers opt for the pure subscription structure rather than pay for the hardware up front.<\/p>\n

“Our enterprise fleet segment landed substantial deals in the\u00a0quarter, while our passenger vehicle segment continued to demonstrate strong growth. Of note, adoption of our\u00a0solutions in the bus and coach industry continues to expand, the\u00a0company\u00a0lead said.<\/p>\n

The CEO noted new deals during the period including a\u00a0significant deal with Lind Gas in Brazil.<\/p>\n

The third quarter of fiscal year 2014 included expected losses incurred by the start-up operation in Brazil\u00a0and additional investments in headcount, MiX said.<\/p>\n

The company\u00a0opened up a new office in Sao Paulo, Brazil in May last year.<\/p>\n

Earnings per diluted\u00a0ordinary share amounted to 6 cents, compared to 4 cents per share in the third quarter of fiscal year 2013.<\/p>\n

MiX \u00a0generated R50.1 million in net cash from operating activities for the three months\u00a0ended December 2013 and invested R33 million in capital expenditures during the quarter.<\/p>\n

Business Outlook<\/strong><\/p>\n

MiX said it expects to generate revenue of between\u00a0R1.27 billion to R1.3 billion for the\u00a0full 2014 fiscal year, which would represent revenue\u00a0growth of 8% to 11% compared to fiscal year 2013.<\/p>\n

It\u00a0anticipates\u00a0subscription revenue of between R841 million to R845 million, which would represent\u00a0subscription revenue growth of 22% to 23% compared to fiscal year 2013.<\/p>\n

For the fourth quarter of fiscal year 2014 the company expects subscription revenue to be in the range of\u00a0R220 million to R224 million which would represent subscription revenue growth of\u00a018% to 20% compared to the fourth quarter of fiscal year 2013.<\/p>\n

More on MiX<\/h3>\n

MiX subscribers up 28%<\/strong><\/a><\/p>\n

MiX Telematics stealing a march on Altech?<\/strong><\/a><\/p>\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","protected":false},"excerpt":{"rendered":"

MiX Telematics highlighted a 26% lift in vehicles under subscription, to 428,500, in third quarter results.<\/p>\n","protected":false},"author":10,"featured_media":52781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[26,2809,3087],"class_list":["post-52779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-software","tag-headline","tag-mix-telematics","tag-stefan-joselowitz"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52779","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=52779"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52779\/revisions"}],"predecessor-version":[{"id":52785,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/52779\/revisions\/52785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/52781"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=52779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=52779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=52779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}