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Amplify misses Street 3Q forecasts

AUSTIN, Texas (AP) _ Amplify Snack Brands Inc. (BETR) on Tuesday reported third-quarter profit of $674,000.

The Austin, Texas-based company said it had profit of 1 cent per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 7 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The popcorn and tortilla chip maker posted revenue of $94.9 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $98.7 million.

Amplify expects full-year earnings in the range of 25 cents to 27 cents per share, with revenue in the range of $375 million to $379 million.

Amplify shares have fallen 32 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.98, a decrease of 58 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BETR at https://www.zacks.com/ap/BETR