Aspen Aerogels Reports Strong Q4 Earnings, Exceeding Expectations
Aspen Aerogels Inc. (ASPN) announced a net income of $11.4 million for the fourth quarter, reversing a loss from the same period a year ago. The Northborough-based company reported earnings per share of 14 cents, or 15 cents excluding asset impairment costs, surpassing analysts' estimates of 9 cents per share.
Revenue for the quarter reached $123.1 million, also exceeding Street forecasts of $121 million. For the full year, Aspen Aerogels posted a net income of $13.4 million, or 17 cents per share, and revenue of $452.7 million.
The company anticipates revenue between $75 and $95 million for the current quarter ending in March.
Despite strong earnings, Aspen Aerogels' shares have declined 1% since the start of the year, trading at $11.75 in the final minutes of trading on Wednesday, a 5% drop over the past 12 months.