Wireless-based fleet tracking provider @Track Communications Inc. today reported that total revenues for the second quarter 2001, which ended June 30, were $17.2 million, compared with $26.3 million for the same period last year. Total revenues for the first six months of 2001 were $39.6 million, versus $42.6 million for the first half of 2000.
"We noted in our 2001 first quarter earnings release in May that we expected second quarter revenues to be significantly below year-ago levels because we would not begin the next round of unit installations for member companies of SBC Communications Inc. until the third quarter of this year," said Jana Ahlfinger Bell, president and CEO.
Bell said the company we expects to recognize higher product revenues in the third and fourth quarters as it continues the installation of units for SBC member companies under previously signed agreements. The company will also concentrate on integrating the Minorplanet Vehicle Information technology into its operations, which should provide additional opportunities to enhance product sales for the remainder of this year.