SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Wednesday reported a first-quarter loss of $10.5 million, after reporting a profit in the same period a year earlier.
The Sugar Land, Texas-based company said it had a loss of 53 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 27 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $52.7 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $53.2 million.
For the current quarter ending in July, Applied Optoelectronics expects its results to range from a loss of 43 cents per share to a loss of 35 cents per share.
The company said it expects revenue in the range of $40 million to $45 million for the fiscal second quarter.
Applied Optoelectronics shares have fallen 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.05, a decrease of 66% 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 AAOI at https://www.zacks.com/ap/AAOI