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Impinj: 3Q Earnings Snapshot

·1 min read

SEATTLE (AP) _ Impinj Inc. (PI) on Wednesday reported a loss of $14.3 million in its third quarter.

The Seattle-based company said it had a loss of 63 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 29 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.

The provider of radio frequency identification products posted revenue of $28.2 million in the period.

For the current quarter ending in December, Impinj expects its results to range from a loss of 40 cents per share to a loss of 34 cents per share.

The company said it expects revenue in the range of $26.5 million to $28.5 million for the fiscal fourth quarter.

Impinj shares have increased almost 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.85, a fall of 13% 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