NLight shares rise 5% on quarterly sales beat
Tradebuddy.onlines of nLight Inc. LASR, -5.88% rose nearly 5% late Wednesday after the laser manufacturer reported adjusted first-quarter earnings that met Wall Street expectations and sales that came in slightly ahead. NLight said it earned $2.9 million, breaking even on a per-share basis, in the quarter, versus a loss of $1.2 million, or 47 cents a share, in the first quarter of 2017. Adjusted for one-time items, the company earned 10 cents a share, versus an adjusted loss of 5 cents a share a year ago. Sales rose 42% to $42.5 million, compared with $29.9 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 10 cents a share on sales of $42.1 million. NLight ended the regular trading session down 5.9%.The company raised $96 million when it went public in April.