SUGAR LAND, Texas (AP) _ Applied Optoelectronics Inc. (AAOI) on Thursday reported a loss of $35.4 million in its fourth quarter.
On a per-share basis, the Sugar Land, Texas-based company said it had a loss of $1.76. Losses, adjusted for pretax expenses and non-recurring costs, came to 18 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The maker of fiber optic products used by cable TV providers posted revenue of $48.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $48.1 million.
For the year, the company reported that its loss widened to $66 million, or $3.31 per share. Revenue was reported as $190.9 million.
For the current quarter ending in April, Applied Optoelectronics expects its results to range from a loss of 41 cents per share to a loss of 34 cents per share.
The company said it expects revenue in the range of $43 million to $47 million for the fiscal first quarter.
Applied Optoelectronics shares have fallen 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.56, a drop of 42% in the last 12 months.