MALVERN, Pa. (AP) _ USA Technologies Inc. (USAT) on Thursday reported a loss of $2.9 million in its fiscal second quarter.
On a per-share basis, the Malvern, Pennsylvania-based company said it had a loss of 4 cents. Losses, adjusted for stock option expense and asset impairment costs, came to 2 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 2 cents per share.
The electronic payment and wireless networking company posted revenue of $38.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $40.4 million.
USA Technologies shares have dropped 4.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.01, a rise of 17% in the last 12 months.