Wireless Matrix Q1 loss widens

Thu Sep 29, 2011 7:32am EDT
 
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(Reuters) - Canadian fleet management service provider Wireless Matrix (WRX.TO: Quote) posted a wider quarterly loss, hurt by a weak satellite services segment.

May-July net loss rose to $674,000, or 1 cent per share, from $416,000, or 1 cent a share, a year ago.

Revenue fell 13 percent to $8.2 million, hurt by a 19 percent drop in satellite services segment sales.

Shares of the Herndon, Virginia-based company closed at 82 Canadian cents on Wednesday on the Toronto Stock Exchange.

(Reporting by Amruta Sabnis in Bangalore; Editing by Joyjeet Das)