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USA Technologies: Fiscal 3Q Earnings Snapshot

MALVERN, Pa. (AP) _ USA Technologies Inc. (USAT) on Tuesday reported fiscal third-quarter net income of $1.2 million, after reporting a loss in the same period a year earlier.

The Malvern, Pennsylvania-based company said it had net income of 2 cents per share. Earnings, adjusted for one-time gains and costs, were 4 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The electronic payment and wireless networking company posted revenue of $35.8 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $38.1 million.

USA Technologies expects full-year revenue in the range of $138 million to $142 million.

USA Technologies shares have decreased 0.5 percent since the beginning of the year. The stock has doubled 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 USAT at https://www.zacks.com/ap/USAT