NORTHBOROUGH, Mass. (AP) — NORTHBOROUGH, Mass. (AP) — Aspen Aerogels Inc. (ASPN) on Wednesday reported a loss of $1.8 million in its first quarter.
On a per-share basis, the Northborough, Massachusetts-based company said it had a loss of 2 cents. Earnings, adjusted for asset impairment costs, were 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The maker of insulation products posted revenue of $94.5 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $73 million.
Aspen Aerogels shares have fallen 3.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.22, more than doubling in the last 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 Zacks stock report on ASPN at https://www.zacks.com/ap/ASPN
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