Exfo Inc (EXFO: Quote, EXF.TO) Thursday reported a loss for the third quarter compared to a profit last year, primarily hurt by lower revenues and weak margins.
The Quebec, Canada-based company's third-quarter net loss was $3.90 million or $0.06 per share, compared to a net profit of $1.80 million or $0.03 per share last year.
On average, seven analysts polled by Thomson Reuters expected the company to earn C$0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped to $59.51 million from $67.63 million in the prior-year quarter.
Five analysts had a consensus revenue estimate of C$60.26 million for the quarter.
For the quarter, gross margin decreased to 60.4 percent from 64.2 percent in the year-ago quarter.
Looking ahead, the company expects fourth-quarter IFRS net loss in the range of $0.11 and $0.07 per share. Revenues for the fourth quarter are anticipated in the range of $55.0 million and $60.0 million.
Analysts currently expect the company to earn C$0.08 per share for the quarter, with revenues of C$68.67 million.
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by RTT Staff Writer
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