XATA Reports Improved 3rd Quarter Results

XATA Corp., Minneapolis, Minn., reported a net loss of $128,000, or $0.02 per share on revenues of $5.1 million

in its third quarter of fiscal 2004 ending June 30.
The company had reported a $170,000 loss on revenues of $4.7 million in the previous quarter.
The results are a significant improvement over the reported loss of $1 million on revenues of $3.1 million in the third quarter of fiscal 2003.
“We were pleased with our third quarter results, including a growing cash balance, strong sales of our OpCenter fleet management system and a growing list of over 80 customers for our XATANET web-based fleet management system”, reported Craig Fawcett, XATA president and chief executive officer.
“We have been managing the competing demands of generating positive cash flow, investing heavily into our products and laying the groundwork for future growth.”
XATA highlighted the following accomplishments in its announcement:
-- Generated $1.4 million in cash from operating activities in the fiscal third quarter.
-- Continued fulfilling orders for its program with Penske Truck Leasing Co., L.P. in which Penske offers the XATANET web-based fleet management system to its lease customers throughout North America. Penske recently launched a program to integrate XATANET into its standard lease product offerings.
-- Continued fulfilling orders for its OpCenter enterprise fleet management system to multiple customers, including orders related to the United States Postal Service 2004 cargo van purchase.
For more information, visit www.xata.com.