Casa Systems: 2Q Earnings Snapshot
ANDOVER, Mass. (AP) _ Casa Systems Inc. (CASA) on Wednesday reported second-quarter earnings of $1.3 million.
On a per-share basis, the Andover, Massachusetts-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense and pretax expenses, were 7 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 provider of digital cable video and broadband services posted revenue of $52.1 million in the period.
Casa Systems expects full-year earnings in the range of 20 cents to 30 cents per share, with revenue in the range of $320 million to $350 million.
Casa Systems shares have dropped 50% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.59, a decrease of 57% in the last 12 months.