Impinj: 3Q Earnings Snapshot
SEATTLE (AP) _ Impinj Inc. (PI) on Monday reported a loss of $4.1 million in its third quarter.
The Seattle-based company said it had a loss of 19 cents per share. Earnings, adjusted for non-recurring costs, came to 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The provider of radio frequency identification products posted revenue of $40.8 million in the period.
For the current quarter ending in December, Impinj expects its results to range from a loss of 3 cents per share to earnings of 4 cents per share.
The company said it expects revenue in the range of $37 million to $39 million for the fiscal fourth quarter.
Impinj shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.44, an increase of 50% in the last 12 months.