SUGAR LAND, Texas (AP) — SUGAR LAND, Texas (AP) — Applied Optoelectronics Inc. (AAOI) on Wednesday reported a loss of $119.7 million in its fourth quarter.
The Sugar Land, Texas-based company said it had a loss of $2.60 per share. Losses, adjusted for non-recurring costs and stock option expense, came to 2 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 2 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $100.3 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $100.2 million.
For the year, the company reported that its loss widened to $186.7 million, or $4.50 per share. Revenue was reported as $249.4 million.
For the current quarter ending in March, Applied Optoelectronics said it expects revenue in the range of $94 million to $104 million.
Applied Optoelectronics shares have fallen 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.19, a rise of 71% 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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