Exfo Inc (NASDAQ:EXFO) announced a loss in the third-quarter, damaged by delays in spending by network operators.
Canadian telecom services provider announced a loss of $3.9 million or 6 cents a share in the three months finished May 31, evaluated against earnings of $1.8 million or 3 cents a share in previous year.
The company reported that revenue moved down 12% to $59.5 million. The corporation estimates a net loss in the range of 11 cents to 7 cents a share on $55 million to $60 million of sales during Q4.
Exfo Chief Executive Officer Germain Lamonde stated that the company was also looking for a $9 million cost-reduction arrangement.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Ciena Corporation (NASDAQ:CIEN) increased +4.00% to settle at $16.37, Cisco Systems, Inc. (NASDAQ:CSCO) moved up +4.19% to end at $17.17 while OmniVision Technologies, Inc. (NASDAQ:OVTI) jumped +6.38% to finish on Friday at $13.34.
Exfo Inc (NASDAQ:EXFO) last session volume of 63,011.00 shares was higher than its average volume of 35,964.00 shares. The stock after opening at $5.43 hit high price of $5.43 and then closed at $4.99 by scoring -6.03%.
EXFO generated revenue of 257.22 million in the following twelve months and earned $0.50 million. The Company showed a positive 0.75% in the net profit margin and as well as in its operating margin which remained 2.08%. Company’s annual sales growth for the past five year was 20.23%.
The EXFO past twelve months price to sales ratio was 1.16 and price to cash ratio remained 4.28. As far as the returns are concern, the EXFO return on equity was recorded as 0.20% and dropped 0.73% return on investment while its return on asset stayed at 0.61%.
The stock showed weekly downbeat performance of -6.55% which was maintained for the month at -18.60%. Likewise the negative performance for the quarter was recorded as -29.32% and for the year was -35.86% while the YTD performance remained at -14.99%.
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