AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Friday reported a loss of $8.8 million in its first quarter.
The Austin, Texas-based company said it had a loss of 7 cents per share. Losses, adjusted for one-time gains and costs, came to 9 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 9 cents per share.
The solar tracking systems maker posted revenue of $12.6 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $12.5 million.
For the current quarter ending in June, FTC Solar said it expects revenue in the range of $10.5 million to $15.5 million.
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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 FTCI at https://www.zacks.com/ap/FTCI
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