SkyWater Technology's Fiscal Q4 Earnings, Revenue Decline; Provides Q1 Guidance; Shares Rise
SkyWater Technology (SKYT) shares were up more than 22% in recent trading after it reported Q4 adjusted earnings and revenue that beat analysts' expectations.
The company reported Q4 adjusted net income of $0.04 per diluted share, compared with a loss of $0.02 a year earlier.
Analysts surveyed by FactSet expected earnings of $0.02 per share.
Revenue for the quarter ended Dec. 29 was $75.5 million, compared with $79.2 million a year earlier. Analysts surveyed by FactSet expected $74.2 million.
For Q1, the company said it expects an adjusted net loss of $0.10 to $0.16, on revenue of $59 million to $63 million.
Analysts surveyed by FactSet expect an adjusted loss of $0.06 on revenue of $66.5 million.
Price: 10.80, Change: +1.96, Percent Change: +22.12
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