NORTHBOROUGH, Mass. (AP) 鈥� NORTHBOROUGH, Mass. (AP) 鈥� Aspen Aerogels Inc. (ASPN) on Thursday reported a loss of $23.3 million in its second quarter.
On a per-share basis, the Northborough, Massachusetts-based company said it had a loss of 28 cents. Losses, adjusted for non-recurring costs, were 22 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 22 cents per share.
The maker of insulation products posted revenue of $49.8 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $42.3 million.
For the current quarter ending in September, Aspen Aerogels said it expects revenue in the range of $65 million to $80 million.
Aspen Aerogels shares have increased 77% since the beginning of the year. The stock has dropped 39% in the last 12 months.
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