NORTHBOROUGH, Mass. (AP) — NORTHBOROUGH, Mass. (AP) — Aspen Aerogels Inc. (ASPN) on Thursday reported a loss of $301.2 million in its first quarter.
On a per-share basis, the Northborough, Massachusetts-based company said it had a loss of $3.67. Losses, adjusted for asset impairment costs and restructuring costs, were 6 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The maker of insulation products posted revenue of $78.7 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $82.9 million.
For the current quarter ending in June, Aspen Aerogels said it expects revenue in the range of $70 million to $80 million.
Aspen Aerogels shares have fallen 52% since the beginning of the year. The stock has declined 78% 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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