(Reuters) - RealD Inc, a licensor of 3D technologies, reported a lower-than-expected quarterly results on lower profit from 3D eyewear.
Shares of the company were down 20 percent in after-market trade. They had closed at $12.60 on Monday on the New York Stock Exchange.
The company’s net income attributable to common stockholders fell to $3 million, or 5 cents per share, in the first quarter, from $9.5 million, or 17 cents per share, a year earlier.
The company said profit fell on a $5.9 million decline in product and other gross profit that resulted from a reduced mix of recycled 3D eyewear shipped to RealD-equipped theaters in the quarter.
Revenue rose 14 percent to $68.2 million.
Analysts on average had expected earnings of 15 cents per share on revenue of $70.4 million, according to Thomson Reuters I/B/E/S.
Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sriraj Kalluvila