SANTA BARBARA, Calif.-Superconductor Technologies Inc. posted lower-than-expected revenues in its preliminary fourth-quarter and full-year results.
The company said it expects net revenues for the quarter to be about $4.1 million, compared with $7.3 million during the third quarter. STI had expected revenue to be between $8 million and $10 million. The company attributed the shortfall to delays in some large government and commercial purchase orders that are now expected to occur this year. Net revenues for the year are expected to be $23.1 million.
STI plans to announce its final year-end results in March.
