Airgain: 4Q Earnings Snapshot
SAN DIEGO (AP) _ Airgain Inc. (AIRG) on Thursday reported fourth-quarter earnings of $1.3 million.
The San Diego-based company said it had profit of 13 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 17 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The antenna products developer posted revenue of $16.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $16.5 million.
For the year, the company reported a loss of $2.6 million, or 27 cents per share, swinging to a loss in the period. Revenue was reported as $60.6 million.
For the current quarter ending in April, Airgain expects its per-share earnings to range from 4 cents to 5 cents.
The company said it expects revenue in the range of $15 million to $15.3 million for the fiscal first quarter.
Airgain shares have climbed roughly 8 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.67, an increase of 11 percent in the last 12 months.