SUGAR LAND, Texas (AP) — SUGAR LAND, Texas (AP) — Applied Optoelectronics Inc. (AAOI) on Thursday reported a loss of $17.9 million in its third quarter.
The Sugar Land, Texas-based company said it had a loss of 28 cents per share. Losses, adjusted for one-time gains and costs, were 9 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 10 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $118.6 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $119.9 million.
For the current quarter ending in December, Applied Optoelectronics expects its results to range from a loss of 13 cents per share to a loss of 4 cents per share.
The company said it expects revenue in the range of $125 million to $140 million for the fiscal fourth quarter.
Applied Optoelectronics shares have declined 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.10, an increase of 80% 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 AAOI at https://www.zacks.com/ap/AAOI
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