Socket Mobile (NASDAQ: SCKT) reported Q3 EPS of ($0.01), $0.01 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $4.14 million versus the consensus estimate of $4.19 million.

Kevin Mills, president and chief executive officer, commented, "Our Q3 results were impacted by our ongoing product transition, despite the extremely positive feedback we are receiving on our new SocketScan products. Most of our application partners have completed their evaluations and are in the process of changing guidance to their customers to purchase our newest products, but in many cases the new information has not yet made it to their end users. We expect to complete the transition during Q4.

Our S740, our newest and most affordable 2D scanner, was the highlight of the quarter and bucked the trend with over 60% of new 2D scanner orders being for this new and improved version. In addition to our hardware transition we have also transitioned our Software Development Kits. I\'m pleased to report that this transition has gone well and our development partners have provided very positive feedback about the improvements. We saw good engagement by our registered application developers in Q3 and have now over 750 Socket Mobile enabled Applications in the Apple App Store. We are also seeing good interest from the Android community.

It is clear from our experience during 2018 that our community is slow to adopt product transitions. The good news is that we will complete the transition before the end of the year and will have moved our customers to a substantially improved product platform that we expect to be a primary platform for the next 4 to 5 years," Mills concluded.

For earnings history and earnings-related data on Socket Mobile (SCKT) click here.