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