LoJack Corporation (LOJN) Hits New 52-week High
Shares of LoJack Corporation (NASDAQ:LOJN) are up 25% to $5.13 this morning after climbing to its 52-week high of $5.50 earlier in the session.
The company said that its net income jumped to $2.7 million or $0.15, reversing a year ago loss of $13.4 million, or $0.78 a SHARE.
Revenue during the quarter grew 7% to $38.5 million, from $36.1 million in the same quarter of the prior year.
Gross margin declined to 50% from 57% in a year ago quarter.
Shares of LOJN have jumped 28% so far this year. It has a 52-week range of $3.18-$5.50.
LoJack Corporation (LoJack) is a global provider of technology products and services for the tracking and recovery of stolen mobile assets. The Company’s integration with law enforcement agencies in the United States, together with its technology and wireless network provide a means for the tracking and recovery of stolen vehicles, motorcycles, construction equipment, cargo and people at risk.