LoJack Turns To Loss In Q2; Revises 2014 Guidance - Quick Facts

(RTTNews) - LoJack Corp. (LOJN) reported second-quarter net loss attributable to the company of 3.435 million, or $0.19 per share, as against a profit of $2.645 million, or $0.15 per share, in the prior-year quarter.

Revenue for the second quarter ended June 30, 2014 was $34.4 million, compared with $33.7 million for the same period in 2013.

Looking ahead to 2014, the firm now expects net revenue to increase in the range of 5% to 7% over full-year 2013, and expects adjusted EBITDA in the range of 5% to 6% of 2014 revenue. The company's revised guidance mainly reflects reduced expectations from its Argentinean licensee and the $1.7 million in costs related to the battery evaluation.