Sonos: Fiscal 4Q Earnings Snapshot
SANTA BARBARA, Calif. (AP) _ Sonos Inc. (SONO) on Wednesday reported a fiscal fourth-quarter loss of $29.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Santa Barbara, California-based company said it had a loss of 28 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The maker of wireless speakers and home sound systems posted revenue of $294.2 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $289.4 million.
For the year, the company reported that its loss narrowed to $4.8 million, or 5 cents per share. Revenue was reported as $1.26 billion.
Sonos expects full-year revenue in the range of $1.37 billion to $1.4 billion.
Sonos shares have risen 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.88, an increase of 4% in the last 12 months.