In This Article:
AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Monday reported a loss of $12.2 million in its fourth quarter.
The Austin, Texas-based company said it had a loss of 96 cents per share. Losses, adjusted for stock option expense and severance costs, were 80 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 83 cents per share.
The solar tracking systems maker posted revenue of $13.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $11.5 million.
For the year, the company reported a loss of $48.6 million, or $3.83 per share. Revenue was reported as $47.4 million.
For the current quarter ending in March, FTC Solar said it expects revenue in the range of $18 million to $20 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTCI at https://www.zacks.com/ap/FTCI