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Minorplanet meets expectations for 2Q

RICHARDSON, Texas-Minorplanet Systems USA Inc., which provides telematics-based fleet management solutions, reported second quarter revenues of $15.6 million, in line with expectations but still down from the $17.2 million recorded for the year-ago quarter.

The company also said it experienced a 59.6-percent decrease in net loss for the second quarter, reporting $3.5 million net loss compared with $8.7 million in the year-ago quarter. In addition, Minorplanet said it has earned $30.6 million in total revenues for the first six months of 2002 with a loss of $7.9 million. These figures compare to revenues of $39.6 million for the first six months of 2001 with a loss of $14.3 million.

The company also said it has engaged Deloitte & Touche L.L.P. as its independent accountants for fiscal year 2002.

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