SAN DIEGO (AP) _ Airgain Inc. (AIRG) on Thursday reported first-quarter net income of $336,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had profit of 3 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The antenna products developer posted revenue of $15.1 million in the period, which matched Street forecasts.
For the current quarter ending in July, Airgain expects its results to range from a loss of 1 cent per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $14.2 million to $14.4 million for the fiscal second quarter.
Airgain shares have increased 59% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.72, an increase of 97% in the last 12 months.
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