Key Developments For LoJack
LoJack (LOJN.O) (Nasdaq)
LoJack Corporation Announces Global Cargo Protection Solution
LoJack Corporation announced the launch of LoJack SCI InTransit solution. This system delivers a global cargo protection solution that provides 24/7 visibility for shipments as they move through the international supply chain - from point of origin to point of destination, across land, air and sea. It is the only comprehensive system that enables businesses to control the various and complex aspects of cargo in-transit through a single user interface, while also providing complete monitoring support and recovery capabilities.
LoJack Corporation Issues FY 2009 Guidance Above Analysts' Estimates
LoJack Corporation announced that for fiscal 2009, it expects revenue to be between $180 million and $186 million, net income to be between $6 million and $7.5 million, and earnings per fully diluted share to be between $0.37 and $0.42. According to Reuters Estimates, analysts are expecting the Company to report revenue of $178 million and EPS of $0.23 for fiscal 2009.
LoJack Corporation Names Ronald V. Waters, III as Chief Executive Officer
LoJack Corporation announced the promotion of Ronald V. Waters, III, from President and Chief Operating Officer to President and Chief Executive Officer effective January 1, 2009, succeeding Richard T. Riley in the role of Chief Executive Officer. Mr. Riley will remain on a full-time basis as Executive Chairman of the Board.
LoJack Corporation To Cut 50 Jobs-DJ
Dow Jones reported that LoJack Corporation said that it will cut 50 jobs. The Company said in a filing with the U.S. Securities and Exchange Commission that the restructuring is to bring the operational cost structure in line with the current auto market expectations. The restructuring involves consolidating the Northeast and South operations regions into one organization, according to the filing.
LoJack Corporation Lowers FY 2008 Guidance
LoJack Corporation announced that for fiscal 2008, it has lowered its guidance and expects revenue to be between $199 million and $202 million, pro forma net income to be between $8.5 million and $9.5 million, pro forma earnings per fully diluted share to be between $0.50 and $0.53. According to Reuters Estimates, analysts are expecting the Company to report revenue of $199 million for fiscal 2008.
