SEATTLE (AP) — SEATTLE (AP) — Impinj Inc. (PI) on Wednesday reported second-quarter profit of $11.6 million.
The Seattle-based company said it had net income of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The provider of radio frequency identification products posted revenue of $97.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $94 million.
For the current quarter ending in September, Impinj expects its per-share earnings to range from 47 cents to 51 cents.
The company said it expects revenue in the range of $91 million to $94 million for the fiscal third 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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