Astrotech Q3 revenue declines, net loss widens
Overview
US instrumentation company's fiscal Q3 revenue fell yr/yr
Net loss widened to $3.8 mln, with EPS loss of $2.25 for fiscal Q3
Company cut R&D expense by 28% as it shifts focus to commercial product sales
Outlook
Company says it will continue balancing expense control with strategic investments to drive revenue growth
Astrotech says its sales team is advancing a healthy sales pipeline with ongoing customer engagement
Company says it is positioned to operate efficiently in a dynamic macro environment
Result Drivers
R&D SPENDING CUTS - Co reduced research and development expense by 28% as it shifts focus from development to commercial sales for EN-SCAN Handheld GC and 1st Detect TRACER 1000 product lines
COST-EFFICIENCY INITIATIVES - Management said it achieved targeted cost-efficiency initiatives while continuing selective investment in high-return areas
SALES PIPELINE AND DEPLOYMENTS - Co said its sales team is advancing a healthy pipeline, supported by deployments of the TRACER 1000 system in 37 locations across 16 countries
Company press release: ID:nGNX3Qj4F9
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| $343,000 |
|
Q3 EPS |
| -$2.25 |
|
Q3 Net Income |
| -$3.77 mln |
|
Q3 Gross Profit |
| $67,000 |
|
Q3 Operating Expenses |
| $3.52 mln |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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