AUSTIN, Texas (AP) _ Ideal Power Inc. (IPWR) on Monday reported a loss of $2.8 million in its fourth quarter.
The Austin, Texas-based company said it had a loss of 29 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for a loss of 29 cents per share.
The power conversion technologies developer posted revenue of $370,700 in the period. Its adjusted revenue was $371,000, missing Street forecasts. Six analysts surveyed by Zacks expected $1.4 million.
For the year, the company reported that its loss widened to $11 million, or $1.15 per share. Revenue was reported as $1.6 million.
In the final minutes of trading on Monday, the company's shares hit $2.40. A year ago, they were trading at $4.69.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IPWR at https://www.zacks.com/ap/IPWR
Keywords: Ideal Power, Earnings Report