HUNTERSVILLE, N.C. (AP) _ Akoustis Technologies, Inc. (AKTS) on Monday reported a loss of $19.1 million in its fiscal first quarter.
The Huntersville, North Carolina-based company said it had a loss of 33 cents per share. Losses, adjusted for non-recurring costs, were 28 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.
The company posted revenue of $5.6 million in the period, which met Street forecasts.
The company's shares closed at $3.60. A year ago, they were trading at $7.89.
_____
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