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SAN DIEGO, CA — January 4, 2008 — Solera Holdings, Inc. (NYSE: SLH), the leading global provider of software and services for the automobile insurance claims processing industry, today announced that it will ring the Opening Bell of the New York Stock Exchange (NYSE) on Thursday, January 17 to commemorate Founders’ Day and a landmark 2007.
January 17 marks the 2005 inception of Solera by Tony Aquila, a veteran of the auto claims business. The Company teamed with private equity firm GTCR Golder Rauner II, L.L.C. and later acquired the Claims Services Group (CSG) of Automatic Data Processing, Inc. (ADP) in 2006. With Solera’s drive to enter into 16 new countries since the acquisition, today, the Company is the leading global provider of automobile insurance claims processing software and services—having a presence in 51 countries across six continents.
2007 was a significant year in Solera’s history. In May, the Company completed an initial public offering (IPO) of 30,187,500 shares, raising $288 million net of underwriting fees. Just five months later, in October, Solera successfully completed a secondary offering of 18,131,435 shares. 2007 fiscal year revenues—calculated through the June 30, 2007 year end—were $472 million, representing a 9.7% year-over-year increase while also improving profitability. For fiscal year 2008, the Company has provided guidance indicating revenue growth to full year totals of $505-$510 million with a positive GAAP net income of $10-15 million.
Solera continues to focus on a growth strategy of developing emerging and evolving markets, while vigorously competing and investing in mature markets. At the same time, the Company is guided by a set of principles that directs it to continuously attack waste in order to drive profitability. Using these principles, it also maintains a fanatical approach to customer satisfaction.
Commenting on the upcoming events, Tony Aquila, founder, chairman and CEO of Solera Holdings, Inc. said, “We have made good strategic and operational progress since the Company’s founding. We look forward to sharing this upcoming celebration with the associates, customers and investors who have contributed to our success. While we are proud of our accomplishments to date, we are truly never satisfied. We understand that we have tremendous opportunities before us and we remain laser focused on delivering even greater long-term value to all of our stakeholders.”
About Solera
Solera is the leading global provider of software and services for the automobile insurance claims processing industry. Solera has operations in 49 countries across 5 continents. The Solera companies include Audatex in the United States, Canada, and in more than 35 additional countries, Informex in Belgium, Sidexa in France, ABZ in the Netherlands, Hollander serving the North American recycling market, and IMS providing medical review services. For more information, please refer to the Company’s website at www.solerainc.com.
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This press release contains forward-looking statements, including statements about business outlook and strategy that may suggest trends in our business. These statements are based on estimates and information available to us at the time of this press release and are not guarantees of future performance. There may be other factors that may cause our actual results to differ materially from those suggested by these forward-looking statements. Our actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. We can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them does, what impact they will have on our results of operations and financial condition. You should carefully read the factors described in the "Risk Factors" section of our filings with the Securities and Exchange Commission for a description of certain risks that could, among other things, cause our actual results to differ from these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Contact:
Press Contact:
Kendra DeWitt
Solera Holdings, Inc.
kendra.dewitt@audatex.com
858-946-1453
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