NORTHBOROUGH, Mass. (AP) — NORTHBOROUGH, Mass. (AP) — Aspen Aerogels Inc. (ASPN) on Wednesday reported fourth-quarter net income of $11.4 million, after reporting a loss in the same period a year earlier.
The Northborough, Massachusetts-based company said it had net income of 14 cents per share. Earnings, adjusted for asset impairment costs, came to 15 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The maker of insulation products posted revenue of $123.1 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $121 million.
For the current quarter ending in March, Aspen Aerogels said it expects revenue in the range of $75 million to $95 million.
Aspen Aerogels shares have dropped 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.75, a drop of 5% in the last 12 months.
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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 ASPN at https://www.zacks.com/ap/ASPN
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