HUNTERSVILLE, N.C. (AP) — HUNTERSVILLE, N.C. (AP) — Akoustis Technologies, Inc. (AKTS) on Tuesday reported a loss of $15.7 million in its fiscal second quarter.

The Huntersville, North Carolina-based company said it had a loss of 21 cents per share. Losses, adjusted for amortization costs and non-recurring costs, were 19 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The company posted revenue of $7 million in the period, which met Street forecasts.

The company's shares closed at 73 cents. A year ago, they were trading at $4.33.

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