Impinj: Q1 Earnings Snapshot

SEATTLE (AP) — SEATTLE (AP) — Impinj Inc. (PI) on Wednesday reported first-quarter earnings of $33.3 million.

The Seattle-based company said it had net income of $1.10 per share. Earnings, adjusted for non-recurring gains, were 21 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The provider of radio frequency identification products posted revenue of $76.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $73.6 million.

For the current quarter ending in June, Impinj expects its per-share earnings to range from 72 cents to 77 cents.

The company said it expects revenue in the range of $96 million to $99 million for the fiscal second quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PI at https://www.zacks.com/ap/PI