NORTHBOROUGH, Mass. (AP) — NORTHBOROUGH, Mass. (AP) — Aspen Aerogels Inc. (ASPN) on Wednesday reported a loss of $13 million in its third quarter.
On a per-share basis, the Northborough, Massachusetts-based company said it had a loss of 17 cents. Earnings, adjusted to extinguish debt, were 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The maker of insulation products posted revenue of $117.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $117 million.
Aspen Aerogels expects full-year earnings to be 11 cents per share, with revenue expected to be $450 million.
Aspen Aerogels shares have increased nearly 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.86, a climb of 87% 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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