@Road(R) Inaugurates New Facility in Chennai, India
Wednesday September 13, 10:00 pm ET
@Road Chennai Center Continues to Grow Keeping Pace With the Company's Global Expansion Efforts
CHENNAI, INDIA--(MARKET WIRE)--Sep 13, 2006 -- @Road, Inc. (NASDAQ:ARDI - News), a global provider of solutions for Mobile Resource Management (MRM), today announced the inauguration of its expanded operations and facilities in Chennai's premier Information Technology destination, TIDEL Park. Participating in the inauguration is Mr. David Hopper, Consul General, U.S. Consulate, Chennai, Dr. Chandramouli, Secretary, Department of Information Technology, Government of Tamil Nadul, and @Road President and CEO, Mr. Krish Panu. The inauguration ceremony will take place at 10:00 in the morning at the new @Road Chennai business center, 901(A1) & 902(A2), Tidel Park, No.4 on Canal Bank Road.
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In its seven years of operation in Chennai, @Road has grown from a few engineers in a small office to more than 160 information technology professionals working in functional areas such as research and development, quality assurance, technical support, business development and marketing at the newly dedicated 40,000 sq. ft. Chennai facility.
Mr. Krish Panu, President and CEO of @Road said: "It's important for us to maintain our leadership position and competitive advantage by continuing to innovate in mobile resource management. Our team in Chennai will play a pivotal role in that innovation and as part of our international efforts to deliver world-class, next-generation MRM solutions. We look forward to the @Road Chennai center being an integral part of our aggressive growth plans to build a center of excellence in India and to being a key component of our organizational goals for international growth."
According to Mr. Rajan Aiyer, India Country Manager for @Road: "@Road has made a significant investment in its Chennai operations and enjoys nearly 40,000 square feet of prime office space. Current plans call for continued office expansion in Chennai and the adding of several hundred professionals as @Road revenues grow and demand for MRM and field automation services accelerate worldwide."
@Road is a company that has been profitable since July 2003. Total revenues in 2005 increased 23% to $92.9 million from $75.2 million in 2004. Additionally, for the six months ended June 30, 2006, total revenues were $47.9 million, an 18% increase compared to $40.6 million for the same period in 2005. Hosted revenues for the first six months were $40.6 million, and licensed revenues for the first six months were $7.3 million. The company's balance sheet as of December 31, 2005, includes $118 million of cash, cash equivalents and short-term investments.
@Road continues to see business traction and expansion as indicated by such recent customer wins as AT&T Lightspeed, BellSouth, Cox Communications, E.ON UK and E.ON Slovakia, Performance Transportation Services and ServiceMaster within its Terminix business unit.
Mr. Panu added: "Adoption of our innovative MRM solutions is also accelerating on a global basis due to an effective partner strategy that's leveraging new business channels through system integrators and other value-added business relationships we're pursuing."
@Road's MRM solutions for field force management are designed to enable businesses to drive down fuel and other operating costs while increasing mobile worker productivity. This is accomplished through greater location intelligence and visibility into the daily activities of their mobile workers and their work -- from actual vehicle routes, starts and stops, to customizable maps showing mobile worker location relative to important landmarks like customer locations or work yards. @Road field force management solutions also allow businesses to upload customer and/or trip information into a routing engine to generate on-demand, actionable reports such as optimized routes and drive-time, fuel economy, city ordinance compliance and much more.
In addition to @Road MRM solutions for field force management, @Road offers solutions that use real-time data and patented artificial-intelligence algorithms designed to transform field service management from a manual process into a highly automated, proactive one that makes the best field technician schedule and dispatch decision from an operation and a customer perspective. @Road field service management solutions also coordinate people, skills, resources and inventory with ease, constantly optimizing for the best solution at any given time. These solutions go beyond human decision-making capabilities, coping with the complexity and changeability of today's fast-paced global business environment.
Rounding out @Road's family of comprehensive MRM solutions are solutions for field asset management incorporating vehicle diagnostic/prognostic and sensor technologies for driver safety, inventory management and optimized vehicle performance and maintenance.
"As we continue to create new value-added services for our customers and expand our services internationally, we look to our operations in Chennai to play an important role in our growth strategy," Mr. Panu concluded. |
