NORTHBOROUGH, Mass. (AP) — NORTHBOROUGH, Mass. (AP) — Aspen Aerogels Inc. (ASPN) on Thursday reported a loss of $23.7 million in its first quarter.
On a per-share basis, the Northborough, Massachusetts-based company said it had a loss of 29 cents. Losses, adjusted for restructuring costs, were 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.
The maker of insulation products posted revenue of $37.9 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $36.6 million.
For the current quarter ending in June, Aspen Aerogels said it expects revenue in the range of $40 million to $48 million.
The company’s shares closed at $4.12. A year ago, they were trading at $5.50.
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