CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Tuesday reported a loss of $22.2 million…
CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Tuesday reported a loss of $22.2 million in its fourth quarter.
The Carlsbad, California-based company said it had a loss of 25 cents per share. Losses, adjusted for stock option expense and restructuring costs, came to 4 cents per share.
The maker of smart connected devices posted revenue of $118.5 million in the period.
For the year, the company reported that its loss widened to $56.6 million, or 65 cents per share. Revenue was reported as $490.4 million.
For the current quarter ending in March, Arlo Technologies expects its results to range from a loss of 7 cents per share to a loss of 1 cent per share.
In the final minutes of trading on Tuesday, the company’s shares hit $3.57. A year ago, they were trading at $10.27.
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