Xata Corp. Losses for the Quarter
May 9, 2012
Xata Corp. reported deeper year-over-year losses for the first quarter of 2012, its second fiscal quarter.
Net loss to common shareholders for the second quarter of fiscal 2012 was $2.1 million, compared to a loss of $0.8 million for the same period of fiscal 2011. The company reported a loss of 20 cents per diluted share for the quarter, compared to a loss of 7 cents per diluted share for the same period of fiscal 2011.
Total revenue was $15.9 million for the quarter ended March 31, 2012, compared to $16.7 million for the same period of fiscal 2011.
Software revenue increased $0.3 million to $11.7 million for the quarter. The 3% growth in software revenue was fueled by a 40% growth in Xata Turnpike software revenue.
Higher margin software revenues increased with the popularity of the no-upfront-hardware-cost Xata Turnpike solution rather than the hardware-based XataNet solution. As a result, quarter software revenue accounted for approximately 74% of total revenue, compared to 68% for the same period of fiscal 2011.
Xata acquired 61 new customers this past quarter, with the majority selecting the Xata Turnpike solution.