Shares of Powerfleet fell after the company cut its revenue outlook for the year, hurt by a production constraint that pressured sales during its fiscal first quarter.

The stock slipped 17%, to $3.65, in premarket trading Monday. Through Friday's close, shares are down 16% year to date.

The company before the bell posted a loss of $8.44 million, or 6 cents a share, for its three months ended June 30, compared with a loss of $10.2 million, or 8 cents a share, a year earlier. Analysts polled by FactSet had expected a loss of 2 cents a share.

Revenue climbed 6.4% to $110.8 million, but missed Wall Street models for $115.5 million.

Powerfleet said some product revenue was delayed by a production constraint late in the quarter, though the company added that it has identified the problem and the solution, and that production is being restored.

"This is a discrete production and revenue-recognition timing issue, not a reflection of customer demand or a broader production constraint," the company said.

For the year, Powerfleet now expects a net loss of $6 million to $8 million, compared with a prior view for a loss of $4 million to $8 million. Revenue is now projected to be between $468 million to $473 million, compared with between $485 million to $490 million previously.

Analysts are looking for earnings of 6 cents a share on revenue of $487.2 million.