Maxwell Technologies (MXWL) Q4 Loss Wider Than Expected
Zacks Investment Research | Feb 15, 2018 10:42PM ET
Maxwell Technologies, Inc. (NASDAQ:MXWL) reported adjusted loss of 14 cents per share in fourth-quarter 2017, wider than the Zacks Consensus Estimate of a loss of 11 cents. On a year-over-year basis, the quarterly loss narrowed from the year-ago loss of 23 cents.
Excluding one-time items, the company incurred a loss of 24 cents per share, lower than the year-ago quarter’s loss of 38 cents.
For 2017, Maxwell Technologies reported adjusted loss of 65 cents per share, narrower than the loss of 67 cents in the prior year. The full-year adjusted earnings came in wider than the Zacks Consensus Estimate of a loss of 62 cents.
Revenues
Maxwell Technologies’ fourth-quarter revenues of $30.8 million missed the Zacks Consensus Estimate of $32 million by 3.4%. However, the top line improved 16.5% from the year-ago figure of $26.4 million.
For 2017, the company generated revenues worth $130.4 million, which once again lagged the Zacks Consensus Estimate of $134.03 million. Moreover, on a year-over-year basis, revenues improved 7.5 % from $121.2 million in the prior year.
While high voltage revenues dropped 27.4% in the quarter, ultracapacitor revenues improved 63.6%, resulting in an improvement in total revenues.
Operational Highlights
In the quarter under review, the company’s cost of revenues was $23.4 million, up 13% year over year.
Total operating expenses were $14.3 million (or 46.5% of revenues) compared with $15.6 million (or 59.1% of revenues) in the prior-year quarter.
Maxwell Technologies, Inc. Price, Consensus and EPS Surprise
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