The company announces 10 percent revenue growth for the fourth quarter of fiscal 2011.
Revenue for the fourth quarter of fiscal 2011 grew 10 percent over the prior year to US$ 54.3 million. Revenue for fiscal 2011 grew 23 percent year over year to US$ 210.5 million. Average monthly paying end users for the fourth quarter of fiscal 2011 increased 53 percent year over year to 24.6 million and increased by 2.1 million sequentially. Revenue from strategic growth areas which include automotive, enterprise location-based services, mobile advertising and commerce and premium LBS was 17 percent of total revenue for the fourth quarter of fiscal 2011, up from 5 percent of total revenue for the fourth quarter of fiscal 2010. For fiscal 2011, revenue from strategic growth areas totalled 13 percent of revenue.
TeleNav provides consumers, wireless service providers, enterprises and automakers with location services such as GPS navigation, local search, mobile advertising, mobile commerce, location tracking and workflow automation. TeleNav’s technology is available across more than 600 handset models and all major mobile phone operating systems.
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