Thursday, Global Traffic Network, Inc. (GNET), a provider of custom traffic and news reports, posted a loss for its fourth quarter ended June 30, attributable to difficult global economic conditions leading to "advertising slow down", as well as unfavorable currency exchange translations.
The New York-based company reported a net loss of $1.04 million or $0.06 per share compared with a profit of $0.93 million or $0.05 per share in the prior year period. On average, six analysts polled by Thomson Reuters expected a loss of $0.06 per share for the quarter. Analysts' estimates typically exclude one-time items.
Global Traffic Network's quarterly revenues jumped 23% to $17.97 million, surpassing Street View of $16.66 million, from $14.59 million in the comparable period. Geographically, revenues of $5.9 million from its UK operations, outweighed the 17% and 22% plunge in revenues from Australian and Canadian operations, respectively.
The group's Australian and Canadian quarterly revenues fell to $10.19 million and $1.84 million from $12.30 million and $2.29 million, respectively, impacted by unfavorable currency exchange translations. On a constant currency basis, Australian revenue rose 3%, while Canadian revenues decreased 7%.
For the recent fourth quarter, the group posted a net operating loss of $623 thousand compared to an operating profit of $1.64 million, hurt by increased operating expenses of $13.63 million compared to $8.31 million, despite a slight decline in selling, general and administrative or SG&A expenses to $3.85 million from $4.21 million.
On a year-to-date basis, the company posted a net loss of $1.08 million or $0.06 per share, compared with a net profit of $1.73 million or $0.10 per share last year.
Revenue for the period increased to $60.33 million from $50.95 million a year earlier.
GNET is currently down 7.58% at $4.39, on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.