May 6, 2021 Updated: May 6, 2021, 6:58 p.m.
VANCOUVER, Wash. (AP) _ NLight Inc. (LASR) reported a loss of $ 6.1 million in the first quarter on Thursday.
The Vancouver, Washington, based company said it posted a loss of 15 cents per share. Adjusted for stock option costs and amortization costs, earnings were 6 cents per share.
The results exceeded Wall Street’s expectations. The average estimate by three analysts surveyed by Zacks Investment Research was earnings of 5 cents per share.
The laser maker had sales of $ 61.3 million in the reporting period, also beating Street’s forecasts. Three analysts surveyed by Zacks expected $ 60.2 million.
For the current quarter, which ends in July, nLight expects sales in the range of $ 62 million to $ 68 million.
NLight stocks are down 20% since the start of the year. In the last few minutes of trading on Thursday, shares hit $ 26.03, up 46% over the past 12 months.
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This story was created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LASR at https://www.zacks.com/ap/LASR