Akoustis Technologies and Investors Title are among the latest N.C. public companies to post earnings. Here are recaps of their reports from The Associated Press.
Akoustis Technologies
HUNTERSVILE — Akoustis Technologies, Inc. (AKTS) on Monday reported a loss of $15.5 million in its fiscal third quarter.
On a per-share basis, the Huntersville, North Carolina-based company said it had a loss of 23 cents. Losses, adjusted for non-recurring costs, were 20 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The company posted revenue of $7.4 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $7.5 million.
The company’s shares closed at $2.90. A year ago, they were trading at $4.29.
Investors Title
CHAPEL HILL — Investors Title Co. (ITIC) on Friday reported earnings of $1.2 million in its first quarter.
The Chapel Hill, North Carolina-based company said it had profit of 62 cents per share.
The insurance company posted revenue of $51.3 million in the period.
