HUNTERSVILLE, N.C. (AP) — HUNTERSVILLE, N.C. (AP) — Akoustis Technologies, Inc. (AKTS) on Monday reported a loss of $20.1 million in its fiscal first quarter.
The Huntersville, North Carolina-based company said it had a loss of 28 cents per share. Losses, adjusted for non-recurring costs, came to 27 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 18 cents per share.
The company posted revenue of $7 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $7.1 million.
The company's shares closed at 56 cents. A year ago, they were trading at $3.60.
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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