WOODCLIFF LAKE, N.J. (AP) — WOODCLIFF LAKE, N.J. (AP) — PowerFleet, Inc. (AIOT) on Monday reported a loss of $10.2 million in its fiscal first quarter.
On a per-share basis, the Woodcliff Lake, New Jersey-based company said it had a loss of 8 cents. Earnings, adjusted for non-recurring costs, were 1 cent per share.
The maker of tracking and communications technology for fleet vehicles posted revenue of $104.1 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $103.3 million.
PowerFleet expects full-year revenue in the range of $430 million to $440 million.
The company’s shares closed at $3.85. A year ago, they were trading at $4.65.
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