Telematics Specialist Imarda Announces H1 2009 Results

AUCKLAND, New Zealand--Leading Australasian Telematics company, Imarda Ltd, today released its unaudited draft first half year results for 2009.

The company reports close to 9000 units of its Telematics hardware shipped in the first half of 2009. Revenue and margins for the period are significantly up on the same period in 2008 and have also increased over the second half of 2008.

Claire Mitchell, CFO of Imarda Ltd, reports the company's revenues are in excess of 7.8 Million USD.

"With total revenue of 7.8 Million USD for the half year and combined margins of approximately 53% percent an EBITDA in excess of 2.6 million USD for the half year is expected," she says.

"We are delighted that despite international economic turmoil our revenues, margins and profits continue to grow," says Selwyn Pellett, CEO of Imarda. "As a result we have now managed to retire all bank debt associated with our acquisition of SmartTrack and Prolificx in 2007."

He reports that Imarda has seen a significant lift in confidence in the global transportation sector during Q2 of 2009 and, as a result, its order book is building again after a marked decline in Q1, 2009.

"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 (SaaS) 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 product offering, Imarda 360 (i360), is due to be released in the next few months. The new service has been designed from the ground up to be scalable for deployment globally.

"We've spent a lot of time and effort ensuring i360 will significantly raise the bar in terms of what enterprise mobile business solutions should deliver," says Pellett. "We've built on our years of experience in providing products and services to some of the world's largest fleet owners, and engineered a product we believe will be revolutionary."

"Moreover, as a web-service, i360 enables us to provide enterprise-level fleet management to small fleet owners as well as big ones. In fact, we think i360 offers tremendous potential to create widespread efficiencies in fleet management across the board – which will help everyone to minimise both their operating costs and their environmental impact."

Imarda's new i360 product uses a rich web user-interface incorporating mapping data from Google, and consists of a range of modules for specific industries. Pellett says i360 will allow a fantastic out of the box experience for smaller customers while enabling rapid industry-specific customisation and integration for larger fleet operators.

Pellett says that the next step for the company is to ramp up its operations to enable its planned rollout of the i360 service globally. "There is significant capability in New Zealand and Australia to fuel our technology road map and we intend to capitalise on that. The timing is right to begin our next phase of growth."

Our i360 product will initially be released in Australia, New Zealand and USA where Imarda already has a significant customer base. Imarda is currently indentifying new channel partners in Australia, USA, Europe and Asia.

ABOUT IMARDA

Imarda has offices in Perth, Sydney, Auckland, Singapore, Malaysia, and Fairfax (Virginia). It provides technologies and expertise to enhance the productivity and efficiency of businesses that utilise mobile assets and staff.

Imarda is privately held with the majority of its shareholders located in Australasia, and was formed in 2007 by the acquisition and merger of two product companies, SmartTrack PTY Ltd and Prolificx Ltd.

Both Prolificx and SmartTrack had been in the Telematics industry since 2001 - Prolificx as a manufacturer of high-end Telematics hardware, and SmartTrack as a provider of web-based, fleet-management services to some of Australasia's largest fleet operators.

For more information see http://www.imardainc.com