Telematics company Imarda has announced strong results for the first half of 2009. The company shipped close to 9,000 units of its telematics hardware in the half year and says revenue and margins for the period are up over the same period in 2008. CFO Claire Mitchell says revenues for the period are now over $12.5 million. Combined with margins of around 53% percent, earnings before interest, tax and depreciation in excess of $4.2 million are expected for the half year, she says.
"We are delighted that despite international economic turmoil our revenues, margins and profits continue to grow," says Imarda's CEO, Selwyn Pellett. "As a result we have now managed to retire all bank debt associated with our acquisition of SmartTrack and Prolificx in 2007."
Pellett says Imarda has seen a lift in confidence in the global transportation sector during the second quarter of 2009 and its order book is building again after a decline in the first quarter of the year.
"OEM telematics hardware sales will remain a significant part of Imarda's business strategy," Pellett says. "However, we will focus increasingly on expanding our reach by rapidly delivering hosted mobile business solutions for all geographies. This software as a service model is already a significant part of our business in Australia and it’s now a core focus of our strategic direction."
Imarda's new web-based product, Imarda 360 (i360), is due to be released in the next few months.