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Exfo posts 1Q profit, results miss Wall Street estimates

QUÉBEC – QUEBEC CITY (AP) _ Exfo Inc. (EXFO) on Wednesday reported fiscal first-quarter profit of $1.8 million.

On a per-share basis, the Quebec City-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were 4 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The telecommunications testing company posted revenue of $55.2 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $57.8 million.

For the current quarter ending in March, Exfo said it expects revenue in the range of $52 million to $57 million.

In the final minutes of trading on Wednesday, the company’s shares hit $2.87. A year ago, they were trading at $3.42.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXFO at http://www.zacks.com/ap/EXFO

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Keywords: Exfo, Earnings Report