Impinj: 4Q Earnings Snapshot

·1 min read

SEATTLE (AP) _ Impinj Inc. (PI) on Wednesday reported a loss of $15.7 million in its fourth quarter.

The Seattle-based company said it had a loss of 68 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 15 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The provider of radio frequency identification products posted revenue of $36.4 million in the period.

For the year, the company reported that its loss widened to $51.9 million, or $2.28 per share. Revenue was reported as $138.9 million.

For the current quarter ending in April, Impinj expects its results to range from a loss of 15 cents per share to a loss of 8 cents per share.

The company said it expects revenue in the range of $41 million to $43 million for the fiscal first quarter.

Impinj shares have risen 52% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $63.81, an increase of 98% in the last 12 months.

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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