PowerFleet: Fiscal Q3 Earnings Snapshot

WOODCLIFF LAKE, N.J. (AP) — WOODCLIFF LAKE, N.J. (AP) — PowerFleet, Inc. (AIOT) on Monday reported a loss of $14.3 million in its fiscal third quarter.

On a per-share basis, the Woodcliff Lake, New Jersey-based company said it had a loss of 11 cents.

The results did not meet Wall Street expectations. The average estimate of four 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 $106.4 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $100.6 million.

PowerFleet expects full-year revenue of $362.5 million.

PowerFleet shares have decreased 11% since the beginning of the year. The stock has increased 83% in the last 12 months.

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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