December 14, 2010 / 2:40 PM / 8 years ago

UPDATE 1-Wireless Matrix loss widens as satellite svcs rev falls

* Revenue down 15 pct

* Sees FY11 revenue $33.5-$36 mln vs est $35 mln

Dec 14 (Reuters) - Wireless Matrix (WRX.TO), a Canadian fleet management service provider, posted a wider quarterly loss as revenue from its satellite services segment fell more than 40 percent.

For 2011, the company said it sees revenue of $33.5-$36 million. Two analysts are expecting the company to post 2011 revenue of $35 million, according to Thomson Reuters I/B/E/S.

For the August-October quarter, the company reported a net loss of $1.3 million, or 2 cents per share, compared with a net loss of $280,000, or breakeven per share, a year ago.

Revenue fell 15 percent to $8.7 million. Satellite services revenue was $2.7 million down from $4.6 million a year ago.

The analysts had expected the company to earn 1 cent a share, on revenue of $8.3 million.

The company had said in September that overall services revenue will be flat for next year as it transitions its satellite customers. [ID:nSGE68D0JK]

Wireless Matrix shares, which have gained 15 percent in the last six months, were trading at 97 cents on Tuesday morning on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Roshni Menon)

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