Airgain: 4Q Earnings Snapshot

·1 min read

SAN DIEGO (AP) _ Airgain Inc. (AIRG) on Thursday reported a fourth-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier.

The San Diego-based company said it had a loss of 11 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 2 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The antenna products developer posted revenue of $12.8 million in the period, which met Street forecasts.

For the year, the company reported a loss of $3.3 million, or 34 cents per share, swinging to a loss in the period. Revenue was reported as $48.5 million.

For the current quarter ending in April, Airgain expects its per-share earnings to be 3 cents.

The company said it expects revenue in the range of $16.5 million to $17.5 million for the fiscal first quarter.

Airgain shares have increased 45% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.81, nearly tripling 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 AIRG at https://www.zacks.com/ap/AIRG