Wireless truck tracking provider Aether Systems reported a net loss of $9.9 million on revenues of $27.2 million in the third quarter, an improvement from the $96.6 million it lost in the same period last year on revenues of $31.7 million. Chairman and CEO Dave Oros noted that Owings Mills, MD-based Aether has substantially reduced its operating expenses as it attempts to become profitable. In the
Wireless truck tracking provider Aether Systems reported a net loss of $9.9 million on revenues of $27.2 million in the third quarter, an improvement from the $96.6 million it lost in the same period last year on revenues of $31.7 million.
Chairman and CEO Dave Oros noted that Owings Mills, MD-based Aether has substantially reduced its operating expenses as it attempts to become profitable. In the third quarter, operating expenses dropped to $20.5 million, compared to $28.7 million in the second quarter and $108.4 million in the third quarter of 2002.
“Reaching profitability in the short term remains a key priority, [so] we have continued to aggressively manage costs and reduce expenses,” Oros said. “While revenue was somewhat below expectations, we have continued to work at improving our overall financial position.”
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...
Gain a strategic edge in today’s evolving fleet landscape. Join us to explore how fuel cards are helping fleet managers cut costs, enhance control, and prepare for an electrified...
