Airgain: overview of third quarter results
SAN DIEGO (AP) _ Airgain Inc. (AIRG) on Tuesday reported a third quarter loss of $ 3.1 million.
The San Diego-based company said it lost 30 cents a share. Losses, adjusted for stock option fees and amortization costs, were 11 cents per share.
The results fell short of Wall Street’s expectations. The average estimate of four analysts polled by Zacks Investment Research was of a loss of 5 cents per share.
The developer of antenna products reported sales of $ 15.5 million during the period, which is also lower than Street’s forecast. Four analysts polled by Zacks expected $ 15.9 million.
For the current quarter ending in December, Airgain expects its earnings per share to be 22 cents.
The company said it expects revenue of between $ 13.5 million and $ 14.5 million for the fiscal fourth quarter.
Air shares have fallen 38% since the start of the year. In the closing minutes of trading on Tuesday, the shares hit $ 11.04, down 14% in the past 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a report on Zacks actions on AIRG at https://www.zacks.com/ap/AIRG