Ideal Power: 3Q Earnings Snapshot
AUSTIN, Texas (AP) _ Ideal Power Inc. (IPWR) on Thursday reported a loss of $2.3 million in its third quarter.
The Austin, Texas-based company said it had a loss of 16 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The power conversion technologies developer posted revenue of $342,700 in the period. Its adjusted revenue was $343,000, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $665,000.
The company’s shares closed at 52 cents. A year ago, they were trading at $1.51.