SUGAR LAND, Texas (AP) — SUGAR LAND, Texas (AP) — Applied Optoelectronics Inc. (AAOI) on Thursday reported a loss of $20.3 million in its fourth quarter.
The Sugar Land, Texas-based company said it had a loss of 71 cents per share. Losses, adjusted for non-recurring costs and pretax expenses, came to 19 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $61.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $61.3 million.
For the year, the company reported that its loss widened to $66.4 million, or $2.38 per share. Revenue was reported as $222.8 million.
For the current quarter ending in March, Applied Optoelectronics expects its results to range from a loss of 19 cents per share to a loss of 15 cents per share.
The company said it expects revenue in the range of $52 million to $55 million for the fiscal first quarter.
In the final minutes of trading on Thursday, the company’s shares hit $3.04. A year ago, they were trading at $3.84.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAOI at https://www.zacks.com/ap/AAOI
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