Airgain: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Airgain Inc. (AIRG) on Thursday reported second-quarter net income of $662,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had net income of 7 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 12 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The antenna products developer posted revenue of $14.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $14.3 million.
For the current quarter ending in October, Airgain expects its results to range from a loss of 4 cents per share to earnings of 5 cents per share.
The company said it expects revenue in the range of $12 million to $14 million for the fiscal third quarter.
Airgain shares have climbed 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.16, an increase of 23% in the last 12 months.