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LoJack trims loss, but sales decline

Associated Press / May 4, 2011

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WESTWOOD — LoJack Corp., the maker of tracking devices for vehicles, narrowed its first-quarter loss but said yesterday that revenue declined because of lower prices in the United States.

The company slightly reduced its internal forecast of full-year revenue to a range of $152 million to $156 million. In February, it had forecast $154 million to $157 million.

The first-quarter net loss was $1.6 million, or 9 cents per share, compared with a loss of $5.6 million, or 32 cents per share, a year earlier. Revenue fell to $30.3 million from $30.8 million.

US unit sales rose 7 percent, but the broader auto market grew about 20 percent.