Software firm’s business up 50%

An Irish software company that supplies fleet management solutions for fleets of commercial vehicles, Fleetmatics, has reported a jump in profits of nearly 50%.

In its third-quarter results, the Dublin-based company reported that Adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the third quarter was $15.1m (€11.24m), an increase of 49.5% compared to $10.1m for the third quarter of 2012.

Chairman and chief executive of Fleetmatics, Jim Travers said they had out-performed all of their expectations and goals in the third quarter.