WOODCLIFF LAKE, N.J. (AP) — WOODCLIFF LAKE, N.J. (AP) — PowerFleet, Inc. (AIOT) on Thursday reported a loss of $22.3 million in its fiscal first quarter.
On a per-share basis, the Woodcliff Lake, New Jersey-based company said it had a loss of 21 cents.
The maker of tracking and communications technology for fleet vehicles posted revenue of $75.4 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $71.1 million.
PowerFleet expects full-year revenue of $300 million.
The company’s shares closed at $4.89. A year ago, they were trading at $1.95.
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