WASHINGTON—Online wireless retailer InPhonic Inc. said it narrowed its losses from continuing operations during its fiscal first quarter, news that sent the company’s stock up more than 14 percent to $8.41 per share.
The company reported a loss from continuing operations of $4 million, down from a loss of $7.4 million during last year’s first quarter. Revenues for the quarter improved to $87.4 million from $68.2 million last year. InPhonic’s revenues beat analyst expectations of $83.45 million.
“We are off to a solid start for the year and are excited about the recent additions to senior management,” said David Steinberg, InPhonic’s chairman and chief executive officer. The company last week hired Andy Zeinfield, formerly of RadioShack Corp., as its new president of e-commerce, and Brian Curran, previously a vice president at Best Buy, as its new chief operating officer.
InPhonic offered second-quarter revenue guidance of between $90 million and $95 million. For the full year it expects revenues of between $400 million and $410 million.
