DriveCam Inc., a San Diego provider of video camera systems for transportation fleets, said orders last year hit a record $100 million, while its subscription base grew 50 percent, and doubled the number of orders year over year.
The privately held firm didn’t release any dollar amounts in the recent report, but said last year’s earnings were the fourth consecutive year it had profitable operations.
CEO Brandon Nixon said the combination of a strong balance sheet, the ability to invest, and the firm’s market momentum put the business in a position of market leadership.
In 2012, the company experienced a marked growth in midmarket, government, waste management, and transportation and logistics. “As a result, we are confident of our positioning for expansion into additional new markets, and continued growth in current markets in 2013,” Nixon said.
Among clients that expanded services last year were Waste Management, First Transit and AmeriGas. The firm also won major new contracts with National Joint Powers Alliance, and a few other unnamed companies in the United States, Canada, the United Kingdom and South Africa, DriveCam said.
— SDBJ Staff Report