Shares of Smart Global Holdings fell late Tuesday after the company’s loss and sales missed expectations in the fiscal second quarter.
The stock was down 5.9% to $24.40 in after-hours trading, following a 0.2% rise in the regular session. Shares were up 37% this year through the close.
The Milpitas, Calif.-based company, which makes computer memory and LEDs, posted a loss of $14.6 million, or 26 cents a share, in the quarter ended March 1, compared with a loss of $27.2 million, or 55 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 11 cents.
Total sales dropped 27% to $284.8 million, falling short of the $285.1 million expected by Wall Street analysts.
Smart Global said it expects $275 million to $325 million in net sales in the third quarter. Analysts, meanwhile, expect $311.5 million in sales for the period.
The company guided for a per-share loss of 7 cents a share, plus or minus 15 cents. Analysts are expecting a per-share loss of 5 cents.