Socket Mobile Q2 revenue falls 25% as retail market weakens
Socket Mobile Q2 revenue falls 25% as retail market weakens
Overview
US data capture solutions provider's Q2 revenue fell 25% yr/yr amid retail market challenges
Q2 operating loss widened to $1.2 mln from $677,000 a year ago
Company says cost management initiatives will continue as it aligns expenses with demand
Outlook
Company expects cost management initiatives to continue for the remainder of the yr
Socket Mobile says market conditions remain uncertain
Company focuses on expanding opportunities for data capture solutions across vertical markets
Result Drivers
RETAIL MARKET CHALLENGES - Co said continued challenges in the retail market weighed on Q2 results, per CEO Dave Holmes
COST MANAGEMENT - Co said it is continuing cost management initiatives to align expenses with business conditions
Company press release: ID:nPnbtBQLka
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $3.03 mln |
|
Q2 Net Loss |
| $1.35 mln |
|
Q2 Operating Expenses |
| $2.60 mln |
|
Q2 Operating Income |
| -$1.20 mln |
|
Reuters Recommended Reads
July 29 - Impinj Q2 revenue beats analyst expectations
July 30 - Canada's Gildan Q2 sales miss estimates on retail market softness
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)