SCOTTSDALE, Ariz. (AP) _ TPI Composites Inc. (TPIC) on Wednesday reported second-quarter net income of $1.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Scottsdale, Arizona-based company said it had profit of 5 cents. Earnings, adjusted to extinguish debt, came to 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.
The maker of composite wind blades posted revenue of $330.8 million in the period.
TPI Composites expects a full-year loss of 23 cents to 18 cents per share, with revenue in the range of $1.45 billion to $1.5 billion.
TPI Composites shares have increased almost 3% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.24, a drop of 17% in the last 12 months.