The Car and Truck Fleet and Leasing Management Magazine

AirIQ Announces 2006 Fourth Quarter and Year-End Results

April 9, 2007

TORONTO, ONTARIO – AirIQ Inc. has announced its financial results for the fourth quarter and year ended Dec. 31, 2006.Highlights include:

  • Gross profit increase of 6.8-percent year-over-year to $15,793,178.
  • Cash flow from operating activities, less deferred service contract costs, was $85,121 in 2006 and $899,523 in Q4 compared with $5,840,805 in 2005 and $3,453,178 in Q4 2005.
  • Net loss for the year was reduced by 42.4 percent from $13,147,799 in 2005 to $7,578,038 in 2006.
  • Operating expense reduction of 17.2 percent or $3,888,803 year-over-year.
  • Annual expense to revenue ratio improvement to 46.3 percent in 2006 from 56.5 percent in 2005.
  • Launched AirIQ service to the Service Fleet Market.
  • Vehicle Finance Division sold for $22,350,000.
  • Twitter Facebook Google+

    Comments

    Please note that comments may be moderated. 
    Leave this field empty:
     
     

    Fleet Incentives

    Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

    FleetFAQ

    Fleet Tracking And Telematics

    Todd Ewing from Fleetmatics will answer your questions and challenges

    View All

     

    Fleet Management And Leasing

    Merchants Experts will answer your questions and challenges

    View All

     

    Sponsored by

    RFID stands for Radio Frequency Identification.

    Read more

    Up Next

    More From The World's Largest Fleet Publisher