SEATTLE (AP) — SEATTLE (AP) — Impinj Inc. (PI) on Wednesday reported a loss of $8.5 million in its first quarter.
The Seattle-based company said it had a loss of 30 cents per share. Earnings, adjusted for one-time gains and costs, were 21 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The provider of radio frequency identification products posted revenue of $74.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $71.4 million.
For the current quarter ending in June, Impinj expects its per-share earnings to range from 68 cents to 76 cents.
The company said it expects revenue in the range of $91 million to $96 million for the fiscal second quarter.
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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 PI at https://www.zacks.com/ap/PI
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