Superconductor Technologies Inc. (NASDAQ:SCON) 2Q19 Loss Confined, Beats Wall Street Expectation

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Superconductor Technologies Inc. (NASDAQ:SCON) headquartered in Austin, on Tuesday reported second quarter financial results before market open.

The company reported loss for the second quarter of $ 2.59 million or $ 0.57 per share, compared to loss of $ 1.52 million or $ 1.24 per share for the year-ago quarter.

Street analysts expected Superconductor Technologies Inc. to report loss of $ 0.67 per share on revenue of $ 0.07 million for the second quarter.

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

Jeff Quiram, STI’s president and CEO, stated, In the second quarter, we received initial orders for our Conductus® high performance magnet wire from several customers, including the Institute for Plasma Research, India, (IPR), which we’ve previously announced, and a startup company that is planning to disrupt the fusion market with a low-cost, high-density fusion system.

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