logo-loader
viewExfo Inc

EXFO Swings to 2Q loss on costs linked to acquisitions, U.S. tax reform impact

The company acquired France-based Astellia in February

Fiber optic lines
The shares declined 6% on the news

EXFO Inc. (NASDAQ:EXFO), a monitoring and analytics company, said it swung to a loss in the fiscal second quarter, hampered by costs related to the U.S. tax reform and acquisition expenses.

The net loss was US$4.7mln, or US$0.08 a share, from net profit of US$1.0mln, or US$0.02 a share, a year earlier, the company said in a statement. Revenue gained 7.8% to US$64.7mln.

The stock fell 6% to US$3.95 at 12:24 p.m

EXFO said in February that it acquired France’s Astellia to help scale the company’s offerings to mobile network operators.

Quick facts: Exfo Inc

Price: 3.91 USD

NASDAQ:EXFO
Market: NASDAQ
Market Cap: $217.77 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Alpine 4 Technologies growth continues in Q-1 of 2020 with a nice jump in...

Alpine 4 Technologies (OTC: ALPP) CEO Kent Wilson joined Steve Darling from Proactive Vancouver to share news about the company’s 1st Quarter financial numbers that some very good growth. Wilson shares the numbers and some of the highlights. Wilson also talked about the company’s strategy when...

6 hours, 45 minutes ago

2 min read