Clever. I think those Nigerian opportunities are great too.

With a SaaS model (like XATA) ANY new sale in a quarter adds to net revenue. Looking through their numbers, new sales have stalled. A web training tool would make sense, if they had new customers to use it. But, with no one buying the system, why build it?

Customers may have gone to competitors (Qualcomm, Peoplenet, Trimble, etc.) because XATA hardware doesn't support new trucks using CAN-Bus. Why would a fleet invest in a system that only runs on increasingly older vehicles? Another problem is their data network is obsolete as carriers shift to UMTS.

SaaS models tend to wind down slowly as customers stop renewing long term contracts. So, you'll have to wait awhile for a bottom.