HUNTERSVILLE, N.C. (AP) — HUNTERSVILLE, N.C. (AP) — Akoustis Technologies, Inc. (AKTS) on Wednesday reported a loss of $17.8 million in its fiscal fourth quarter.
On a per-share basis, the Huntersville, North Carolina-based company said it had a loss of 25 cents. Losses, adjusted for one-time gains and costs, were 21 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 16 cents per share.
The company posted revenue of $8.3 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $8.4 million.
For the year, the company reported that its loss widened to $63.6 million, or $1 per share. Revenue was reported as $27.1 million.
The company’s shares closed at $1.65. A year ago, they were trading at $4.10.
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