Solera Holdings, Inc. Announces Third Quarter Fiscal Year 2009 Results

GAAP Third Quarter Revenue of $ 139.3 Million; GAAP Net Income per Share of $0.17, up 52.7% from Prior Year; Company Updates Previously Issued Guidance for Fiscal Year 2009

SAN DIEGO, May 7 -- Solera Holdings, Inc. , the leading global provider of software and services to the automobile insurance claims processing industry, today reported results for the third quarter of fiscal year 2009.

GAAP Results for the Quarter Ended March 31, 2009:

  --  Revenue for the third quarter of fiscal year 2009 was $139.3 million,
      a 0.9% increase over the prior year third quarter revenue of $138.0
      million.  After adjusting for changes in foreign currency exchange
      rates, revenue for the third quarter of fiscal year 2009 increased
      approximately 17.7% over the prior year third quarter;
  --  GAAP net income for the third quarter of fiscal year 2009 was $12.0
      million, a 64.0% improvement over the prior year third quarter GAAP
      net income of $7.3 million;
  --  GAAP diluted net income per share for the third quarter of fiscal year
      2009 was $0.17, a 52.7% per share improvement over the prior year
      third quarter diluted net income per share of $0.11.

  Non-GAAP Results for the Quarter Ended March 31, 2009:

  --  Adjusted EBITDA for the third quarter of fiscal year 2009 was $53.0 
      million, a 10.0% increase over the prior year  third quarter Adjusted
      EBITDA of $48.1 million;
  --  Adjusted Net Income for the  third quarter of fiscal year 2009 was
      $27.5 million, a 30.9% increase over the prior year  third quarter
      Adjusted Net Income of $21.0 million;

  --  Adjusted Net Income per diluted share (or cash earnings per diluted
      share) for the third quarter of fiscal year 2009 was $0.40, a 21.9%
      increase over the prior year third quarter Adjusted Net Income per
      diluted share of $0.32.

"With third quarter revenue of $139.3 million, we continued to demonstrate solid organic growth. Our Adjusted EBITDA margin of 38.0% was ahead of consensus and very solid given the strong US Dollar versus most of the currencies we use to transact our business," said Tony Aquila, founder, chairman and CEO of Solera Holdings, Inc. "Consistent with the last few quarters, we had an overall increase in the number of claims we processed despite weakness in some markets. This illustrates the diversity and strength of our portfolio of mature and evolving markets, and the value of our products and services to our customers."

Business Statistics for the Quarter Ended March 31, 2009:

  --  EMEA revenue for the third quarter of fiscal year 2009 was $87.9
      million, a 2.3% increase over the prior year third quarter revenue of
      $85.9 million.  After adjusting for the changes in foreign currency
      exchange rates (the "FX Changes"), EMEA revenue for the third quarter
      of fiscal year 2009 increased 24.8% over the prior year third quarter.
      After excluding revenue during the third quarter of fiscal year 2009
      from the acquisition of HPI, Ltd. and the FX Changes, EMEA revenue for
      the quarter grew approximately 9.7% over the prior year third quarter
      on an organic basis;
  --  Americas revenue for the third quarter of fiscal year 2009 was $51.4
      million, a 1.4% decrease versus the prior year third quarter revenue
      of $52.1 million.  After the FX Changes, Americas revenue for the
      third quarter of fiscal year 2009 increased 6.1% over the prior year
      third quarter. After excluding revenue during the third quarter of
      fiscal year 2009 from InPart Servicos Ltda. and the FX Changes,
      Americas revenue for the quarter grew approximately 4.7% over the
      prior year third quarter on an organic basis;
  --  Revenue from insurance company customers for the third quarter of
      fiscal year 2009 was $56.8 million, a 1.1% increase over the $56.2
      million in revenue from insurance company customers in the prior year
      third quarter. After FX Changes, insurance company customer revenue
      increased 15.7% over the prior year third quarter;
  --  Revenue from collision repair facility customers for the third quarter
      of fiscal year 2009 was $48.7 million, a 7.5% decrease versus the
      $52.6 million in revenue from collision repair facility customers in
      the prior year third quarter. After FX Changes, collision repair
      facility customer revenue increased 9.6% over the prior year third
      quarter;
  --  Revenue from independent assessor customers for the third quarter of
      fiscal year 2009 was $13.0 million, a 9.6% decrease versus the $14.4
      million in revenue from independent assessor customers in the prior
      year third quarter. After FX Changes, independent assessor customer
      revenue increased 5.8% over the prior year third quarter;
  --  Revenue from automotive recycling and other customers for the third
      quarter of fiscal year 2009 was $20.8 million, a 39.8% increase versus
      the $14.8 million in revenue from automotive recycling and other
      customers in the prior year third quarter. After FX Changes,
      automotive recycling and other customer revenue increased 66.2% over
      the prior year third quarter.