Xata's loses narrow
Xata Corp., maker of onboard fleet management solutions, today reported net sales of $3.1 million for its third fiscal quarter, which was better than the $2.7 million in had in the same period last year.
Xata recorded a net loss of $1 million versus a net loss of $1.8 million for the same period in 2002.
For the first nine months of the fiscal year, Xata's revenue was $7.8 million, compared to $10.3 million for the prior-year nine-month period. The net loss for the nine-month period was $3.2 million, compared to a net loss of $3.0 million in the same period last year.
The company invested $469,000 in new product development in the fiscal 2003 third quarter, and an additional $236,000 in the enhancement of released products, resulting in $705,000 of total product development expenditures in the quarter.