NORTHBOROUGH, Mass. (AP) — NORTHBOROUGH, Mass. (AP) — Aspen Aerogels Inc. (ASPN) on Wednesday reported a loss of $13.1 million in its third quarter.

On a per-share basis, the Northborough, Massachusetts-based company said it had a loss of 19 cents.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.

The maker of insulation products posted revenue of $60.8 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $50.8 million.

Aspen Aerogels expects a full-year loss of 90 cents to 76 cents per share.

Aspen Aerogels shares have dropped 35% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.71, a decrease of 37% in the last 12 months.


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