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Xata Reports Second-Quarter Loss
Transportation software firm Xata Corp. said Monday it lost $1.4 million, or 17 cents a share, in its fiscal second quarter, compared with a loss of $900,000, or 12 cents, a year ago.
Sales rose 49% to $12.1 million for the quarter ended March 31, the company said in a statement.
The quarter’s performance included a $400,000 increase in interest expense as the result of $18.2 million in debt it incurred when it bought GeoLogic Solutions, a deal it closed in February.
The revenue increase in the quarter was driven by a 45% growth from its Xatanet subscription revenue and two months of sales related to the GeoLogic acquisition, Xata said.
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