QUEBEC CITY (AP) _ Exfo Inc. (EXFO) on Wednesday reported fiscal first-quarter profit of $1.8 million.
On a per-share basis, the Quebec City-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were 4 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The telecommunications testing company posted revenue of $55.2 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $57.8 million.
For the current quarter ending in March, Exfo said it expects revenue in the range of $52 million to $57 million.
In the final minutes of trading on Wednesday, the company’s shares hit $2.87. A year ago, they were trading at $3.42.
The Associated Press
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