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 for more information.

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Banking on Bigger Profits with a Heavy-Duty Truck Paint Booth

The addition of a heavy-duty paint booth for oversized trucks & vehicles can open the door to new or expanded service opportunities.

Boosting Your Shop's Bottom Line with an Extended Height Paint Booths

Discover how the investment in an extended-height paint booth is a game-changer for most collision shops with this Free Guide.