Arlo Technologies expects growth to resume for wireless security camera company

Arlo Technologies Inc (NYSE:ARLO) said it expects growth to resume in 2019 after the wireless security camera company introduced two products.

The San Jose, California, company said Tuesday in a statement that it has launched a wireless doorbell that pairs with its wireless cameras. It has also announced the addition of detection features powered by artificial intelligence to its Arlo Smart subscription service.

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“With continued market leadership and innovative product releases, I am confident that Arlo will return to growth,” CEO Matthew McRae said.

The new products were well-received at the Consumer Electronics Show in Las Vegas, according to McRae.

For the fourth quarter, Arlo reported a net loss of $0.43 per share on revenue of $129.3 million, which was up 3.6% from a year earlier. The consensus estimate of analysts was for a loss of $0.35 on estimated revenue of $128.58 million.

Shares of the company dropped 37% to $4.82 in Wednesday’s New York Stock Exchange trading.

Contact Dennis Fitzgerald at [email protected]

Story by ProactiveInvestors