Superconductor Technologies Inc. (NASDAQ:SCON) reports 1Q18 Loss Confined

Superconductor Technologies

Superconductor Technologies Inc. (NASDAQ:SCON) reported first quarter earnings before market open today, that missed street view.

On a GAAP basis, SCON reported net loss of $ 2.18 million or 20 cents per share, compared with loss of $ 2.63 million or 26 cents per share, a year ago period.

Headquartered in Austin, Texas, SCON recorded total revenue that rose 2% to $ 0.25 million from $ 0.01 million in the same quarter last year.

Analysts polled by Thomson Reuters expected Superconductor Technologies Inc. to reveal loss of $ 0.16 per share on revenue of $ 0.32 million for the first quarter.

Jeff Quiram, STI’s president and CEO, stated, In the first quarter of 2018, as previously announced, we expanded our Conductus® wire product development efforts related to next generation electric machines (NGEMs) with the US Department of Energy (DOE) and widened our NGEM scope to multiple applications.

Be the first to comment

Leave a Reply