Arlo Technologies: 4Q Earnings Snapshot

·1 min read

SAN JOSE, Calif. (AP) _ Arlo Technologies Inc. (ARLO) on Tuesday reported a fourth-quarter loss of $15.2 million, after reporting a profit in the same period a year earlier.

The San Jose, California-based company said it had a loss of 19 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 8 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The maker of smart connected devices posted revenue of $114.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $111.2 million.

For the year, the company reported that its loss widened to $101.3 million, or $1.30 per share. Revenue was reported as $357.2 million.

For the current quarter ending in April, Arlo Technologies expects its results to range from a loss of 23 cents per share to a loss of 17 cents per share.

The company said it expects revenue in the range of $70 million to $80 million for the fiscal first quarter.

Arlo Technologies shares have decreased 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.68, more than doubling 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 ARLO at https://www.zacks.com/ap/ARLO