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NLight shares rise 5% on quarterly sales beat

Shares of nLight Inc. LASR, -5.88% rose nearly 5% late Wednesday after the laser producer reported adjusted first-quarter profits that met Wall Street expectations and sales that got here in moderately ahead. NLight said it earned $2.nine million, breaking even on a per-share basis, in the quarter, as opposed to a lack of $1.2 million, or 47 cents a percentage, in the first quarter of 2017. Adjusted for one-time items, the corporate earned 10 cents a percentage, as opposed to an adjusted lack of 5 cents a percentage a yr ago. Sales rose 42% to $42.5 million, in comparison with $29.nine million a yr ago. Analysts polled through FactSet had expected adjusted profits of 10 cents a percentage on sales of $42.1 million. NLight ended the regular trading consultation down 5.nine%.The company raised $96 million when it went public in April.