XATA Sales Rise, but Profits Fall

XATA Corp., a supplier of onboard technology for transportation companies, posted sales of over $4.1 million for its second quarter, ending March 31, 2001, compared to sales of $3.1 million during the same period last year. However, net earnings for the second quarter plummeted to $161,906, compared to net earnings of $394,081 for the second quarter of 2000. For the six months ended March 31, net

XATA Corp., a supplier of onboard technology for transportation companies, posted sales of over $4.1 million for its second quarter, ending March 31, 2001, compared to sales of $3.1 million during the same period last year. However, net earnings for the second quarter plummeted to $161,906, compared to net earnings of $394,081 for the second quarter of 2000.

For the six months ended March 31, net sales climbed to over $6.5 million compared to just over $6 million for the same period last year. Yet XATA incurred a $214,363 net loss for the first six months of fiscal 2001, compared to net earnings of $528,871 for the first six months of fiscal 2000.

“Overall we experienced strong customer demand and improved product availability in our second quarter,” said Bill Flies, XATA’s president and CEO. “Unfortunately, our net earnings do not fully reflect our progress.” As planned, Files said the company has increased the development activities for its XataNet, Onvoy and Fleet Enterprise products as a result of a recent investment in the company by Deere & Company.

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