Aspen Aerogels (ASPN) Misses Q2 EPS by 1c

Aspen Aerogels (NYSE: ASPN) reported Q2 EPS of ($0.12), $0.01 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $30.1 million versus the consensus estimate of $27.79 million.

Aspen Aerogels sees FY2015 EPS of ($0.20)-($0.25), versus prior guidance of ($0.16)-($0.28). Aspen Aerogels sees FY2015 revenue of $118-122 million, versus prior guidance of $113-117 million.

"We are pleased with our second quarter results. We continued to achieve solid revenue, gross profit, and Adjusted EBITDA growth supported by output from our third manufacturing line. Strong demand from Asia and Europe more than offset the previously identified weakness in the Canadian oil sands and Latin American markets and highlighted the importance of the diversified sources of our revenue. We remain confident of our business outlook for the remainder of the year," said Don Young, President and CEO of Aspen Aerogels.

"Our second manufacturing plant remains on track to begin operations in late 2017, and we have narrowed our site selection to a single site in the southeastern part of the United States. We will announce the site location upon completion of site due diligence and final negotiations related to government incentives," continued Don Young, President and CEO of Aspen Aerogels.

For earnings history and earnings-related data on Aspen Aerogels (ASPN) click here.

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