Casa Systems: 1Q Earnings Snapshot

ANDOVER, Mass. (AP) _ Casa Systems Inc. (CASA) on Wednesday reported a first-quarter loss of $15.3 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Andover, Massachusetts-based company said it had a loss of 18 cents. Losses, adjusted for stock option expense and non-recurring costs, were 14 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.

The provider of digital cable video and broadband services posted revenue of $35.5 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $56.4 million.

Casa Systems expects full-year earnings in the range of 30 cents to 40 cents per share, with revenue in the range of $250 million to $300 million.

Casa Systems shares have declined 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.55, a fall of 60% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CASA at https://www.zacks.com/ap/CASA