Maxwell: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Maxwell Technologies Inc. (MXWL) on Monday reported a loss of $11.3 million in its second quarter.
On a per-share basis, the San Diego-based company said it had a loss of 30 cents. Losses, adjusted for stock option expense and non-recurring costs, were 21 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The energy storage and power delivery company posted revenue of $29.5 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $30.9 million.
For the current quarter ending in October, Maxwell expects its per-share loss to be 18 cents.
In the final minutes of trading on Monday, the company’s shares hit $4.29. A year ago, they were trading at $5.72.