Luna Innovations reported a 4% increase in total revenues, reaching $18.6 million for the second quarter of 2020. Operating income increased to $1.8 million, or 10% of total revenues, and net income was $1.4 million, or $0.04 per fully diluted share. The company maintains its 2020 outlook, tightening the revenue range to $81M to $83M.
Total revenues increased by 4% to $18.6 million for the three months ended June 30, 2020.
Operating income and margin improved to $1.8 million and 10% of total revenues.
Net income reached $1.4 million, or $0.04 per fully diluted share.
Adjusted EBITDA increased to $3.0 million.
Luna is slightly tightening its revenue outlook range to $81 million to $83 million, and reiterates the outlook it provided on May 7, 2020.
Analyze how earnings announcements historically affect stock price performance