ANDOVER, Mass. (AP) _ Casa Systems Inc. (CASA) on Thursday reported a third-quarter loss of $8.5 million, after reporting a profit in the same period a year earlier.
The Andover, Massachusetts-based company said it had a loss of 10 cents per share. Losses, adjusted for one-time gains and costs, were 3 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The provider of digital cable video and broadband services posted revenue of $81.8 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $108.9 million.
Casa Systems expects full-year results to range from a loss of 25 cents per share to a loss of 15 cents per share, with revenue in the range of $255 million to $270 million.
Casa Systems shares have decreased 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.75, a drop of 46% in the last 12 months.