I.D. Systems: 2Q Earnings Snapshot
WOODCLIFF LAKE, N.J. (AP) _ I.D. Systems Inc. (IDSY) on Thursday reported a loss of $2.6 million in its second quarter.
The Woodcliff Lake, New Jersey-based company said it had a loss of 15 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 1 cent per share.
The maker of tracking and communications technology for fleet vehicles posted revenue of $16.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $16.7 million.
I.D. Systems shares have risen 9.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.12, a drop of 8.5% in the last 12 months.