Solera Reports Revenue Decline from Glass and Collision Customers

Tony Aquila, Solera Holdings founder and CEO

Tony Aquila, Solera Holdings founder and CEO

Solera Holdings’ revenues from collision and glass facility customers were $68.7 million for the second fiscal-year quarter, down 4.9 percent from the same period last year. The company did not break out its glass-only results.

“On a constant-currency basis, revenues from collision and glass repair facility customers for the second quarter increased 5.5 percent over the prior year’s second quarter,” according to the company’s report.

Exchange rates between most of the major foreign currencies and the U.S. dollar have fluctuated “significantly over the past few years and we expect that they will continue to fluctuate,” according to the report.

Company-wide, revenue for the second quarter was $308 million, up 9 percent from the same period in the previous year when revenue was $282.7 million. On a constant-currency basis, revenue increased by approximately 16.3 percent over the prior-year second quarter.

“While the current market is challenging for many industries, we are excited and energized by our performance to date, the execution of our growth strategy and our market opportunity with more than 230 digital transactions annually and 195,000 customers across 78 countries,” says Tony Aquila, Solera’s founder, chairperson and CEO. “We continue to serve the evolving mobility needs of our customers’ customers through the relentless development of highly cognitive digital solutions.”

Vista Equity Partners acquired Solera Holdings for $55.85 per share in cash in early December 2015. The New York Times puts that at a $6.5 billion transaction.

The acquisition is still subject to “certain other closing conditions, including clearance by the Russian Federation antitrust authorities,” according to the company’s release in December, but the closing is expected to occur “in the early part of the [calendar] first quarter of 2016.”

This entry was posted in glassBYTEs Original Story and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *