Impinj: 3Q Earnings Snapshot

November 4, 2019 GMT

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PI at https://www.zacks.com/ap/PI