Telenav: Fiscal 3Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Telenav Inc. (TNAV) on Thursday reported a loss of $30.8 million in its fiscal third quarter.

On a per-share basis, the Santa Clara, California-based company said it had a loss of 69 cents. Losses, adjusted for asset impairment costs and stock option expense, were 60 cents per share.

The location-based platform services provider posted revenue of $13.8 million in the period.

For the current quarter ending in June, Telenav said it expects revenue in the range of $15 million to $16 million.

Telenav shares have decreased 4.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.25, a decline of 40 percent in the last 12 months.


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