Arlo Technologies stock higher after security-camera maker swings to profit

Arlo Technologies Inc.












ARLO, -2.93%










shares rose more than 7% in the extended session Monday as the maker of security cameras, video doorbells, and other home security electronics swung to a GAAP profit and posted a narrower-than-expected per-share loss in the fourth quarter. Arlo, a Netgear Inc.












NTGR, -4.14%










spinoff that went public in 2018, said it earned $19.6 million, or 26 cents a share, versus a loss of 53 cents a share in the year-ago period. Adjusted for one-time items, Arlo lost 26 cents a share, compared with a loss of 43 cents a share a year ago. Revenue rose to $122.4 million from $122.2 million, the company said. Analysts had expected an adjusted loss of 31 cents a share on sales of $121 million for the quarter. The company guided for revenue between $60 million and $70 million for the first quarter of 2020, and called for full-year 2020 sales between $370 million and $400 million. For the year, it guided for a loss from operations between $97.6 million and $107.6 million, and an adjusted loss from operations between $65 million and $75 million. Shares of Arlo had ended the regular trading day down 2.9%.