Arlo Technologies: Q4 Earnings Snapshot

CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Arlo Technologies Inc. (ARLO) on Thursday reported fourth-quarter net income of $692,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Carlsbad, California-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense and non-recurring costs, came to 11 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The maker of smart connected devices posted revenue of $135.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $135 million.

For the year, the company reported that its loss narrowed to $22 million, or 24 cents per share. Revenue was reported as $491.2 million.

For the current quarter ending in March, Arlo Technologies expects its per-share earnings to range from 5 cents to 11 cents.

The company said it expects revenue in the range of $117 million to $127 million for the fiscal first quarter.

Arlo Technologies shares have risen slightly more than 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.41, nearly tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARLO at https://www.zacks.com/ap/ARLO