WebTech Wireless, a supplier of GPS location-based and fleet telematics services, reported a first-quarter loss of C$363,000 compared with a loss of C$18,000 a year earlier.
Revenue declined to C$6.7 million from C$7.4 million the year before, the company said in a statement.
“We are disappointed with overall revenues, which were below target due to a delayed deal, which has since closed, and a second, which remains open,” WebTech Wireless CEO Scott Edmonds said in a statement.
“Our lead-generation initiatives are building a strong, high-quality and very visible funnel, which gives us confidence that we can recover from this drop in quarterly revenue in the back half of this year,” Edmonds said.
The Vancouver, British Columbia-based company said it has signed new contracts with Vermont Department of Transportation and ProTrux Systems as well as Beck brothers Oil Field.