Telematics firm posts losses in fiscal 3Q

Vehicle telematics firm Elite Logistics said it lost $745,817 in its third fiscal quarter of 2002 on revenues of just $159,766. That compares to revenues of $872,565 and a loss of $478,198 in the same fiscal period of 2001. For the first nine months, Elite reported revenues of $601,840 and losses of over $1.96 million. That compares to revenues of $1.54 million and a loss of $1.41 million for the

Vehicle telematics firm Elite Logistics said it lost $745,817 in its third fiscal quarter of 2002 on revenues of just $159,766. That compares to revenues of $872,565 and a loss of $478,198 in the same fiscal period of 2001.

For the first nine months, Elite reported revenues of $601,840 and losses of over $1.96 million. That compares to revenues of $1.54 million and a loss of $1.41 million for the same period last year.

Freeport, TX-based Elite is the parent company of Elite Logistics Services, which developed the PageTrack vehicle tracking system. That system integrates global positioning systems and two-way wireless telemetry technology to provide Internet-enabled tracking and control of vehicles for fleets.

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