Solera Holdings, Inc. (SLH) reported results for the second quarter of fiscal year 2016.
Revenue for the second quarter was $308.0 million, a 9.0 percent increase over the prior year revenue of $282.7 million. On a constant currency basis, revenue for the second quarter increased by approximately 16.3 percent over the prior year second quarter revenue.
Net income for the second quarter was $53.0 million, as compared to prior year net income of $4.4 million. The increase in net income attributable to Solera Holdings, Inc. is primarily due to a $31.2 million income tax benefit recognized during the second quarter.