Adesto Tech: 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Adesto Technologies Corp. (IOTS) on Wednesday reported a loss of $8.4 million in its third quarter.
The Santa Clara, California-based company said it had a loss of 30 cents per share. Losses, adjusted for non-recurring costs and stock option expense, came to 4 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The memory products maker posted revenue of $21.9 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $20.1 million.
For the current quarter ending in December, Adesto Tech said it expects revenue in the range of $27 million to $30 million.
The company’s shares closed at $4.62. A year ago, they were trading at $7.55.