USA Technologies: Fiscal 1Q Earnings Snapshot
MALVERN, Pa. (AP) _ USA Technologies Inc. (USAT) on Tuesday reported a loss of $12.9 million in its fiscal first quarter.
On a per-share basis, the Malvern, Pennsylvania-based company said it had a loss of 22 cents. Losses, adjusted for non-recurring costs and amortization costs, were 13 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The electronic payment and wireless networking company posted revenue of $42.1 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $38.1 million.
USA Technologies expects full-year revenue in the range of $165 million to $175 million.
USA Technologies shares have risen 80% since the beginning of the year. The stock has climbed 29% in the last 12 months.