XRS Net Loss Widens in Fiscal Year 2012

XRS Net Loss Widens in Fiscal Year 2012

For the fiscal year ending Sept. 30, 2012, trucking software provider XRS Corporation reported a net loss of $10.3 million, compared with a net loss of $2.8 million in the previous fiscal year. 

Revenue for the fiscal year was $63.1 million, up slightly from $63.0 million last year.

The company narrowed its loss to $0.3 million in the fourth quarter, ending Sept. 30, an improvement from the net loss of $1.5 million in the fourth quarter of 2011. Quarterly revenue was $15.0 million, compared with $15.3 million for the same period in 2011. 

Revenue results reflect the company’s shift away from hardware systems sales to mobile solutions, according to Jay Coughlan, chairman, president and CEO.

Bottom-line improvement resulted from software revenue growth of 5 percent and benefits realized from recent business realignment in the third quarter, the company said.