SANTA CLARA, Calif. (AP) _ Ambarella Inc. (AMBA) on Tuesday reported a loss of $13 million in its fiscal fourth quarter.
The Santa Clara, California-based company said it had a loss of 39 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 14 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The video-compression chipmaker posted revenue of $57.2 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $57.1 million.
For the year, the company reported that its loss widened to $44.8 million, or $1.35 per share. Revenue was reported as $228.7 million.
For the current quarter ending in May, Ambarella said it expects revenue in the range of $52 million to $57 million.
Ambarella shares have decreased 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $58.11, a climb of 45% in the last 12 months.