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Sequans: 1Q Earnings Snapshot

COLOMBES, France (AP) _ Sequans Communications SA (SQNS) on Wednesday reported a loss of $8.7 million in its first quarter.

On a per-share basis, the Colombes, France-based company said it had a loss of 10 cents. Losses, adjusted for non-recurring costs and stock option expense, were 8 cents per share.

The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for a loss of 8 cents per share.

The chip company posted revenue of $11.2 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $11.3 million.

For the current quarter ending in July, Sequans said it expects revenue in the range of $12.5 million to $14.5 million.

The company's shares closed at $1.60. A year ago, they were trading at $3.42.


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