WebTech Wireless Narrows Fourth-Quarter Loss

WebTech Wireless, a supplier of GPS location-based and fleet telematics services, reported a loss of C$3.55 million for the fiscal quarter ended Dec. 31, compared with a loss of C$7.26 million a year earlier.

Revenue grew 32% to C$10.97 million, from C$8.33 million the year before, it said Wednesday.

WebTech, Vancouver, British Columbia, said that it saw gross profit margins of 34% in the quarter, down slightly from 36% the year before.

For the full 2010 fiscal year, WebTech's loss narrowed to C$5.53 million, from C$7.74 million in 2009.

Yearly revenue gained 52% to C$41.4, from C$27.2 the year before.