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SAN DIEGO (AP) — SAN DIEGO (AP) — Airgain Inc. (AIRG) on Thursday reported a loss of $2.9 million in its first quarter.
The San Diego-based company said it had a loss of 28 cents per share. Losses, adjusted for one-time gains and costs, came to 8 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The antenna products developer posted revenue of $16.4 million in the period, which met Street forecasts.
For the current quarter ending in June, Airgain said it expects revenue in the range of $15.7 million to $17.3 million.
Airgain shares have decreased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.63, a decrease of 43% 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 AIRG">Zacks stock report on AIRG at https://www.zacks.com/ap/AIRG