SUGAR LAND, Texas (AP) — SUGAR LAND, Texas (AP) — Applied Optoelectronics Inc. (AAOI) on Thursday reported a loss of $16.3 million in its first quarter.
On a per-share basis, the Sugar Land, Texas-based company said it had a loss of 56 cents. Losses, adjusted for non-recurring costs and pretax expenses, came to 25 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $53 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $53.8 million.
For the current quarter ending in June, Applied Optoelectronics expects its results to range from a loss of 31 cents per share to a loss of 23 cents per share.
The company said it expects revenue in the range of $40.5 million to $47.5 million for the fiscal second quarter.
In the final minutes of trading on Thursday, the company's shares hit $1.87. A year ago, they were trading at $2.85.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AAOI">Zacks stock report on AAOI at https://www.zacks.com/ap/AAOI