WOODCLIFF LAKE, N.J. (AP) — WOODCLIFF LAKE, N.J. (AP) — PowerFleet, Inc. (AIOT) on Tuesday reported a loss of $1.9 million in its fiscal second quarter.
The Woodcliff Lake, New Jersey-based company said it had a loss of 2 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The maker of tracking and communications technology for fleet vehicles posted revenue of $77 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $74.5 million.
PowerFleet shares have risen 61% since the beginning of the year. The stock has more than doubled in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIOT at https://www.zacks.com/ap/AIOT
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