LoJack Corporation Announces Q1 2015 Results
LoJack Corporation (NASDAQ GS: LOJN), a provider of vehicle theft recovery systems and advanced fleet management solutions, today reported financial results for the quarter ended March 31, 2015.
“With many legacy expense issues behind us and our primary ERP implementation complete, our bottom line improved significantly in the first quarter,” said Randy Ortiz, LoJack’s President and CEO. “Domestic SVR unit sales growth, renewed international sales from some key licensees, cost-cutting efforts and early traction with our new offerings combined to create solid improvement in Q1. We reduced operating expenses by more than $3 million year-over-year in the quarter, reflecting cost-reduction initiatives.”
“On the operational front, our pre-install business maintained its positive momentum in Q1, achieving its highest unit volume ever in March,” Ortiz continued. “In addition, we signed the third largest pre-install dealer in Company history. Our domestic unit sales volume has now met or exceeded the growth of the U.S. retail auto industry in nine of the past 10 quarters.”