SANTA CLARA, Calif. (AP) _ Adesto Technologies Corp. (IOTS) on Tuesday reported a loss of $4.3 million in its second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 14 cents. Losses, adjusted for amortization costs and stock option expense, came to 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The memory products maker posted revenue of $30.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $30 million.
For the current quarter ending in October, Adesto Tech said it expects revenue in the range of $31.5 million to $34.5 million.
Adesto Tech shares have risen 74% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.64, a rise of 48% in the last 12 months.