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Akoustis: Fiscal Q3 Earnings Snapshot

Associated Press Finance
·1-min read

HUNTERSVILLE, N.C. (AP) — HUNTERSVILLE, N.C. (AP) — Akoustis Technologies, Inc. (AKTS) on Monday reported a loss of $23.3 million in its fiscal third quarter.

On a per-share basis, the Huntersville, North Carolina-based company said it had a loss of 26 cents. Losses, adjusted for asset impairment costs and non-recurring costs, came to 14 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The company posted revenue of $7.5 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $8.6 million.

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The company's shares closed at 57 cents. A year ago, they were trading at $2.72.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AKTS at https://www.zacks.com/ap/AKTS