Losses continue at @Track

May 13, 2002
Despite selling off its long-haul trucking and asset-tracking businesses, @Track Communications still racked up millions worth of losses in the first quarter of this year. For the quarter, @Track lost $4.4 million on revenues of $15 million, compared to losses of $5.6 million on revenues of $22.4 million in the first quarter of last year. Richardson, TX-based @Track is trying to build up tracking
Despite selling off its long-haul trucking and asset-tracking businesses, @Track Communications still racked up millions worth of losses in the first quarter of this year.

For the quarter, @Track lost $4.4 million on revenues of $15 million, compared to losses of $5.6 million on revenues of $22.4 million in the first quarter of last year. Richardson, TX-based @Track is trying to build up tracking business from fleets operating in metropolitan areas using its new Vehicle Management Information technology developed by its partner, Minorplanet Systems PLC.

According to @Track, it sold its long-haul trucking and other tracking businesses -- developed in its previous incarnation as HighwayMaster -- for $15 million in the first quarter in an effort to fund expansion into the metro fleet market. However, proceeds from that sale will not be booked until the second and third quarters of this year, the company said.

About the Author

Sean Kilcarr | Editor in Chief

Sean reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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