U.S. Markets open in 2 hrs 23 mins

Sequans reports 4Q loss

COLOMBES, France (AP) _ Sequans Communications SA (SQNS) on Tuesday reported a loss of $7.6 million in its fourth 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, came to 7 cents per share.

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

The chip company posted revenue of $11.3 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $11.8 million.

For the year, the company reported that its loss widened to $26.2 million, or 34 cents per share. Revenue was reported as $48.3 million.

For the current quarter ending in April, Sequans expects its results to range from a loss of 8 cents per share to a loss of 7 cents per share.

The company said it expects revenue in the range of $10.5 million to $12 million for the fiscal first quarter.

The company's shares closed at $1.56. A year ago, they were trading at $2.38.


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