Aeroflex Posts Loss, Yet Tops Estimates; Stock Up 8%

(RTTNews) - Aeroflex Holding Corp. (ARX), a provider of microelectronic components, Thursday reported second-quarter net loss of $82 million or $0.96 per share, compared with net income of $17 million or $0.20 per share last year.

Results for the recent quarter included impairment charges of $94 million.

Excluding items, adjusted earnings for the quarter were $23 million or $0.27 per share, compared with $19 million or $0.23 per share a year ago.

Sales for the quarter were $189 million, compared with $185 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.23 per share on sales of $180.40 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter, the company expects net loss of $0.04 to $0.02 per share, adjusted earnings of $0.05 and $0.07 per share, and sales of $135 million to $141 million. Analysts expect earnings of $0.06 per share on sales of $148 million.

The company's stock is trading at $8.23, up $0.63 or 8.29%, on a volume of 172 thousand shares on the NYSE.