WOODCLIFF LAKE, N.J. (AP) — WOODCLIFF LAKE, N.J. (AP) — PowerFleet, Inc. (AIOT) on Monday reported a loss of $3.4 million in its fiscal third quarter.
The Woodcliff Lake, New Jersey-based company said it had a loss of 3 cents per share. Earnings, adjusted for one-time gains and costs, were 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The maker of tracking and communications technology for fleet vehicles posted revenue of $113.5 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $111.7 million.
PowerFleet expects full-year revenue in the range of $440 million to $445 million.
The company’s shares closed at $4.84. A year ago, they were trading at $5.95.
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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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