Solera reports 2Q revenue up 24.4%

Feb. 8, 2010

Feb. 8, 2010--Solera Holdings Inc. reported second quarter revenue of $163.3 million, a 24.4 percent increase over the same period last year, when it was $131.3 million.

After adjusting for changes in foreign currency exchange rates, revenue for the quarter ending Dec. 31 was up 15.2 percent.

Revenue from collision repair facility customers was $57.3 million, a 17.3 percent increase over the prior year, and a 9 percent increase after adjusting for currency exchange rates. The San Diego-based company reported a net income for the second quarter of $23.3 million, an 18.5 percent increase over the prior year’s results of $19.6 million.

Solera’s diluted net income per common share for the second quarter was 33 cents, a 13.5 percent increase over the prior year’s diluted net income of 29 cents per common share.

The value of the U.S. dollar during second quarter of fiscal year 2010 weakened against most major foreign currencies. Solera reports this weakening of the U.S. dollar had a positive impact on revenues, but a negative impact on expenses.

Solera is a provider of software products to the automobile insurance claims processing industry in more than 50 countries. Solera owns Audatex North America Inc.

Visit solerainc.com for more information.

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