Impinj Stock Hits All-Time High on Impressive Q1 Earnings
Impinj's Q1 by the numbers
Your average Wall Street analyst expected Impinj to report adjusted earnings near $0.11 per diluted share in the first quarter, based on top-line revenue around $73.6 million. Instead, the maker of radio frequency ID (RFID) asset-tracking tags and related systems delivered $0.21 of earnings per share on $76.8 million in sales.
CEO Chris Diorio's Outlook
CEO Chris Diorio highlighted strong RFID tag sales in the apparel and general merchandise portions of the retail sector, projecting continued strength and growing opportunities for revenue.
Measuring Retail Market Recovery
Impinj's success points to healthier business trends in the retail sector, with large customers accelerating RFID-tracking installations as a sign of optimism. Large retailers are confident in an upward economy, betting on future growth.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.