By Robb M. Stewart
Quarterhill narrowed its loss in the latest quarter as the Canadian transportation-technology company benefited from increased activity and an improved performance in North American project revenue.
The Toronto-based company on Monday reported a net loss of $4.2 millions, or 4 cents a shares, in the first quarter, compared with a year-earlier loss of $11.6 million, or 10 cents.
Revenue for the quarter was 23% higher at $34.9 million, and the provider of tolling and enforcement solutions said it had a revenue backlog worth more than $500 million as of the end of March.
Quarterhill said it expects its cash flow position to strengthen through the year as it collects milestone payments on several continuing tolling projects and it sees the benefits of the recent reorganization of the company's structure.
Write to Robb M. Stewart at robb.stewart@wsj.com