WebTech Wireless Reports First-Quarter Profit

WebTech Wireless, a supplier of GPS location-based and fleet telematics services, reported a profit of $115,000, or zero cents per share for the fiscal quarter ended March 31, compared with a loss of $1.95 million, or 3 cents per share, in the same quarter last year.

Revenue grew slightly, climbing to $6.67 million, from $6.06 million the year before.

WebTech, Vancouver, British Columbia, said that it saw gross profit margins of 56% in the quarter, due largely to high margin sales in Brazil and the United States.

The company shifted its fiscal quarters recently, and last year's comparable quarter ended April 30.