Shares of Impinj were up 20% on Thursday following the company’s first quarter earnings release.
- The Seattle-based RFID-maker reported revenue of $76.8 million, up from the previous quarter and ahead of analyst estimates, but down from the year-ago period.
- The company posted GAAP net income of $33.3 million, which was boosted by $45 million from the settlement of recent patent litigation that also includes an annual license fee.
- Founded in 2000, Impinj manufacturers radio-frequency identification devices that are used by companies in various industries to track everything from apparel to medical supplies to food.
