Adesto Tech: 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Adesto Technologies Corp. (IOTS) on Wednesday reported a loss of $5.1 million in its second quarter.
On a per-share basis, the Santa Clara, California-based company said it had a loss of 24 cents. Losses, adjusted for costs related to mergers and acquisitions and stock option expense, came to 8 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The memory products maker posted revenue of $18.2 million in the period, which matched Street forecasts.
For the current quarter ending in October, Adesto Tech said it expects revenue in the range of $19 million to $21 million.
Adesto Tech shares have decreased 17 percent since the beginning of the year. The stock has climbed 14 percent in the last 12 months.