Impinj Announces Fourth Quarter and Full Year 2017 Financial Results
Impinj, Inc. (PI)
Last impinj, inc. earnings: 4/27 04:15 pm
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Source: GlobeNewswire
SEATTLE, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Impinj, Inc. (NASDAQ:PI), a leading provider and pioneer of RAIN RFID solutions for identifying, locating and authenticating everyday items, today announced its financial results for the fourth quarter and full year ended Dec. 31, 2017. Revenue in the fourth quarter of 2017 was $26.9 million, less than the $29.0 to $30.0 million range shared in the February 1 preliminary announcement. The decrease is due to Impinj agreeing to a partner’s request for a one-time product exchange after the preliminary revenue estimates were previously announced, requiring an accounting reserve in the fourth quarter of 2017. Impinj expects to recognize the revenue in the first quarter of 2018 when the exchange is completed. As a result, Impinj is increasing the revenue outlook for the first quarter of 2018 by $3.25 million, to between $23.25 and $25.25 million. “Our fourth quarter revenue included strong fixed-reader unit-volume growth of 42% year-over-year,”
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