XRS Reports Fourth-Quarter Profit
XRS Corp. reported a profit for its fiscal fourth quarter compared with a loss a year ago.
The trucking software-technology company posted net earnings of $142,000, or 1 cent a share, compared with a loss of $163,000, or 2 cents, a year ago.
Revenue for the quarter ended Sept. 30 declined to $11 million from $12.2 million a year ago, said XRS, formerly Xata Corp.
“Fiscal 2014 will be a year of significant transition for the company as we begin the migration of our legacy customers to the XRS mobile solution. As we transition from our legacy hardware-based solutions to our no-upfront-cost mobile solutions, we expect soft overall revenue,” Chairman and CEO Jay Coughlan said.
XRS reported fiscal-year net income of $866,000, or 6 cents a share, compared with a loss of $10 million, or 95 cents, a year ago. Revenue declined to $45.7 million from $47.5 million the previous year.
