PeopleNet Records 3rd Year Of Record Performance
Acceptance by wide range of various industry segments contributes to growth
MINNEAPOLIS - February 10, 2006 -PeopleNet, the leading provider of onboard computing and mobile communications systems to the nation's transportation industry, recorded its third year of growth in excess of 40 percent growth in 2005, as more and more customers adopted its suite of leading-edge applications
"Our performance in 2005 was extremely strong, and for the sixth consecutive year we met or exceeded our financial goals" says John Sarto, Chairman and Chief Executive Officer of PeopleNet, "By focusing on innovation, delivering value to customers, and developing leadership and professional talent, we will reinforce our prospects for sustained value generation."
In 2005, PeopleNet signed more than 125 new customers, boosting it to a total of more than 1,200 customers that have either converted from older on-board technology or have discovered the tailored mobile communications solutions developed by PeopleNet now provide tools and resources they can implement to optimize their specialized applications.
While the growth in new customers is impressive, a closer look at the range of the customers signals a growing acceptance of mobile communications solutions in key industry markets and vocational segments that traditionally have been under-represented by on-board technologies, according to Sarto. "Our technology provides meaningful solutions to every segment of the trucking industry included less-than-truckload operations, bulk haulers, dedicated operations, private carriage, multi-stop operations and regional and local operations."
In fact, PeopleNet's growing customer base includes nine Fortune 500 companies - Shaw Industries, Tyson Foods, Sunoco, Georgia Pacific, ConAgra Foods, CHS, Performance Food Group, Sherwin Williams and Ryder.
Not surprisingly, some of those same firms are make the list of the nation's top 100 private fleets. PeopleNet currently does business with 16 of these leading carriers including: Tyson, Shaw, Performance Food Group, Cenex, Weyerhauser, Sunoco, Bridgestone, Sherwin Williams, True Value, McKee Foods, Sanderson, Georgia Pacific, Batesville, Trinity, Domino's, and Andersen.
But PeopleNet's success extends well into the common carrier market as it signed 9 of the top 100 for hire carriers including: Ryder, Quality, Ruan, JHT, Lynden, Day & Ross, Cardinal, Pitt Ohio and Smithway.
"We are gratified with the wide acceptance of our new products and the way that they are returning value to our customers in all segments of the industry," he adds. "Because of our efforts to understand our customers' business and to provide solutions to their unique challenges, we have introduced new products and enhanced existing applications to provide solutions to our customers and potential customers."
Sarto also credits PeopleNet's new g3 platform for much of the success. "Fleets have embraced this new product because it represents a convergence of mobile communications, onboard computing and fleet management," he says.
"This next next-generation onboard computer exceeds customer expectations by leveraging multiple wireless networks - digital and analog - to provide up to 500 times the bandwidth of first-generation satellite systems. The g3 provides multi-network, open, and smart access to help fleets multi-task and automate key processes across their operations. The barriers of bandwidth, memory, peripherals, applications and integration all have gone away."
PeopleNet's customer gains helped sparked revenue growth of 45 percent with profits expanding by more than 300 percent. "We are pleased to deliver results that exceeded our sales and earnings expectations while investing back into our business to better meet our customers' needs," according to Sarto. To accommodate the continued expansion, PeopleNet will be expanding its workforce by nearly 35 percent this year, he added.
Headquartered in Minneapolis, PeopleNet is the fastest-growing provider of Internet-based onboard computing and mobile communications systems to the transportation industry, including truckload, LTL, private, and service fleets. The company serves several Fortune 500 companies in the U.S. and Canada and has signed more than 1,200 customers since our inception 10 years ago.
###
For more information, contact: Brian McLaughlin, (888) 346-3486 ext. 211
bmclaughlin@peoplenetonline.com
