Aspen Aerogels reports $6M quarterly loss
Courtesy Aspen Aerogels
One of Aspen Aerogels products is insulation material.
Aspen Aerogels reported it lost $5.7 million in the fourth quarter of 2016, after earning a profit of $1.6 million in the same time period a year before.
In an announcement late last month, the Northborough maker of insulation products chalked up the loss to constrained capital investment and low activity levels in the global energy markets.
Fourth quarter revenue fell 26 percent year-over-year to $27.6 million, compared to $37.4 million in 2015.
The company also reported a net loss for the full year of $12 million compared to a loss of $6.4 million in 2015. Revenue for the year was $117.7 million, compared to $122.5 million in 2015.
Losses are expected to deepen in 2017; the company expects to lose between $18.2 million and $21.2 million for the full year. Revenue is expected to range between $102 million and $112 million.
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