WOODCLIFF LAKE, N.J. (AP) — WOODCLIFF LAKE, N.J. (AP) — PowerFleet, Inc. (AIOT) on Monday reported a loss of $8.4 million in its fiscal first quarter.
On a per-share basis, the Woodcliff Lake, New Jersey-based company said it had a loss of 6 cents. Losses, adjusted for one-time gains and costs, were 1 cent per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The maker of tracking and communications technology for fleet vehicles posted revenue of $110.8 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $115.5 million.
PowerFleet expects full-year revenue in the range of $468 million to $473 million.
The company’s shares closed at $4.41. A year ago, they were trading at $3.87.
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