Revenue for the fourth quarter of fiscal 2012 was $54.8 million, which compares with $57.8 million in the prior sequential quarter and $54.3 million in the fourth quarter of fiscal 2011. Revenue for fiscal year 2012 was $218.5 million, which compares with $210.5 million in fiscal 2011.

Revenue from strategic growth areas, which include automotive, enterprise location-based services (LBS), mobile advertising and commerce and premium LBS, as well as international revenue, was $16.2 million, which compares with $18.1 million in the prior sequential quarter and $11.7 million in the same quarter one year ago. Strategic growth areas plus international represented 30% of total revenue in the fourth quarter of fiscal 2012.

For the 2012 fiscal year, strategic growth areas plus international revenue increased 60% to $57.0 million, compared with $35.5 million in the prior year.

Net income for the fourth quarter of fiscal 2012 was $6.6 million, or $0.15 per diluted share, which compares with net income of $7.4 million, or $0.17 per diluted share, in the third quarter of fiscal 2012 and net income of $9.0 million, or $0.20 per diluted share, for the fourth quarter of fiscal 2011. Non-GAAP net income for the fourth quarter of fiscal 2012 was $8.7 million, or $0.20 per diluted share, which compares with $8.5 million, or $0.19 per diluted share, in the third quarter of fiscal 2012 and $10.1 million, or $0.22 per diluted share in the fourth quarter of fiscal 2011. Non-GAAP net income and non-GAAP net income per diluted share excludes stock-based compensation expense and legal settlement costs, net of tax

Net income for fiscal 2012 was $32.4 million, or $0.74 per diluted share, which compares with $42.6 million, or $0.94 per diluted share, in fiscal 2011. Non-GAAP net income for fiscal 2012 was $37.8 million, or $0.86 per diluted share, which compares with $46.9 million, or $1.04 per diluted share, in fiscal year 2011.

Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, legal settlement cost and stock-based compensation expense) for the fourth quarter of fiscal 2012 was $15.0 million, which compares with $14.2 million in the prior sequential quarter and $18.2 million in the same quarter a year ago. Adjusted EBITDA for fiscal 2012 was $59.6 million, which compares with $81.4 million in fiscal 2011.

Ending cash and investments totaled $199.5 million and the company had no debt as of June 30, 2012.

Total subscribers for June 2012 increased to 33.8 million, including 7.1 million freemium subscribers. Freemium products are free basic navigation services that can be monetized through paid upgrades to premium products, as well as through advertising.

Delphi Automotive has selected Telenav to provide Scout for Cars personalized navigation and local search technology in select vehicles manufactured by a major Chinese vehicle manufacturer. Navigation, along with a variety of other features, will be accessible through both voice commands and a full-color LCD touch screen. The vehicle manufacturer expects this technology to be available in vehicles in China and Europe starting in 2013. Telenav and Delphi also are collaborating on behalf of another major global automaker for an in-vehicle solution that will begin shipping in that automaker’s model year 2013 vehicles.

In June, Telenav announced that Scout for Cars was named as “Best Navigation Solution” at Telematics Detroit. Scout is the first daily personal navigator to be seamlessly accessible across the web, smartphones, and in-car systems, offering users an easy and consistent navigation and discovery experience no matter where they are. Scout goes beyond A-to-B navigation apps by providing personalized information about where to go, when to leave, how to get there, and things to do upon arrival. Scout for Cars will be formatted and displayed on the car’s center stack screen to provide drivers with turn-by-turn directions and voice guidance channeled through the car’s speakers. Depending on individual automotive OEM specifications, Scout for Cars can range from full-color moving maps to basic navigation prompts.

In May, Telenav announced that it received the first place Emerging Technology (E-Tech) award for Mobile apps under the Productivity, Utility and Public Safety category at CTIA. In its seventh year, the CTIA E-Tech Awards honored the industry’s most innovative wireless products and services in the areas of mobile apps, consumer electronics, enterprise and vertical markets and infrastructure. A panel of media and industry analysts sorted through nearly 250 entries and judged winners in 15 categories based on innovation, functionality, technological importance, implementation and overall “wow” factor.

Scout was also recently named the 2012 Award of Excellence winner for Maps/Navigation in the Mobile Apps category by the International Academy of Visual Arts (IAVA) as part of its annual international Communicator Awards program. The Communicator Awards are sanctioned and judged by the IAVA, an invitation-only body consisting of professionals from acclaimed media, communications, advertising, creative and marketing firms. According to the judges, the Award of Excellence is the program’s highest honor and is given to those entries whose ability to communicate positions them as the best in the field.

Telenav’s branded iPhone applications continued to be among the most highly ranked navigation apps for iPhone in both the paid and free categories, with over 4.4 million downloads as of June 30, 2012.

Total revenue is expected to be $44 to $46 million, and reflects the full impact of the amended financial terms of the Sprint bundle agreement;

Revenue from strategic growth areas and international is expected to be $18 to $19 million, equal to approximately 40% of total revenue;

Gross margin is expected to be 71% to 72%;

Non-GAAP operating expenses are expected to be $29 to $30 million, and exclude approximately $1.5 million in stock-based compensation expense;

GAAP net income is expected to be breakeven to $1 million;

GAAP diluted net income per share is expected to be $0.00 to $0.02;

Non-GAAP net income is expected to be $1 to $2 million, and excludes the impact of approximately $1.3 million of stock-based compensation expense, net of taxes;

Non-GAAP diluted net income per share is expected to be $0.02 to $0.04;

GAAP income taxes are expected to be $1 to $2 million, reflecting a volatile effective tax rate based on nearness to breakeven;

Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, and stock-based compensation expense) is expected to be in the range of $4 to $5 million, and excludes the impact of approximately $1.5 million in stock-based compensation expenses and $2.3 million of depreciation and amortization expenses;

Weighted average diluted shares outstanding are expected to be approximately 44 million.

Total revenue is expected to be $185 to $195 million;

Revenue from strategic growth areas and international is expected to be $90 to $100 million, equal to approximately 50% of total revenue for the fiscal year;

Gross margin for the year is expected to be approximately 69% to 70%;

GAAP net income is expected to be in the range of breakeven to $2 million, or approximately $0.00 to $0.04 per diluted share;

Non-GAAP net income is expected to be $4 million to $6 million, or approximately $0.09 to $0.14 per diluted share, and excludes the impact of approximately $5 to $6 million of stock-based compensation expense, net of taxes;

Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, and stock-based compensation expense) is expected to be in the range of $10 to $20 million, and excludes the impact of approximately $6 to $7 million in stock-based compensation expenses and $9 to $10 million of depreciation and amortization expenses;

Weighted average diluted shares outstanding are expected to be approximately 44 million.

Assets

Current assets:

Cash and cash equivalents

Short-term investments

Accounts receivable, net of allowances of $314 and $356, at June 30, 2012 and June 30, 2011, respectively

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Stockholders’ equity:

Preferred stock, $0.001 par value: 50,000 shares authorized; no shares issued or outstanding

Common stock, $0.001 par value: 600,000 shares authorized; 44,001 shares issued and 41,353 shares outstanding at June 30, 2012, and 42,984 shares issued and 41,823 shares outstanding at June 30, 2011

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cash provided by operating activities:

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