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XATA Releases Quarterly Results

XATA Corp., Minneapolis, Minn., increased sales and declining losses for the latest quarter

by Staff
January 30, 2004
XATA Releases Quarterly Results

 

1 min to read


XATA Corp., Minneapolis, Minn., increased sales and declining losses for the latest quarter.


The company provides onboard fleet management systems, largely for the private fleet market.
XATA reported net sales of $3.3 million in its first quarter of fiscal 2004, which ended Dec. 31, 2003, compared to $3.0 million in the first quarter of fiscal 2003. The company reported a net loss of $455,000 for its fiscal first quarter, versus a net loss of $854,000 for the fiscal first quarter of 2003.
"We were pleased with the many key accomplishments in our first quarter," reported Craig Fawcett, XATA president and chief executive officer. "In addition to important progress with strategic accounts, distribution channels and financing, we experienced continued demand for our market-leading OpCenter fleet management system, and achieved significant milestones in the rollout of our web-based XATANET system."
The company cited recent orders totaling about $8 million. One involves the United States Postal Service 2004 cargo van purchase. The second is a program with Penske Truck Leasing Co., L.P. in which Penske will offer the XATANET web-based fleet management system to its lease customers.

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