Shares of Axcelis Technologies, Inc. (NASDAQ:ACLS) went down by 82 cents or 23.03% to trade close at $2.74 after the company reported its fourth fiscal quarter revenue above consensus, but delivered earnings of just $0.02, below the consensus expectation of $0.03.
The maker of plasma cleaning systems for semiconductor companies traded with heavy volume of 11.31 million shares, about 10 times above the daily average of 1.44 million shares after opening at $3.07. The stock has 52 week trading range of $1.34-$3.77. At the current market price, the market capitalization of the stock stands at $287.06 million with beta of 2.55.
The Company reported net income for the fourth fiscal quarter of $4.3 million, or 4 cents a share compared to a net loss for the third fiscal quarter of $6.3 million, or 6 cents a share.
Excluding one time tax benefit, the adjusted EPS of 2 cents a share has been recorded, below the consensus expectation of 3 cents a share.
Revenue during the quarter increased 24.4% quarter over quarter to $93.4 million from $75.1 million, beating the street consensus of $89.31 million.
For the full year 2010, the Company reported revenue of $275.2 million with net loss of $17.6 million, or 17 cents a share compared with $133.0 million with net loss of $77.5 million, or 75 cents a share in 2009.
The Company announced that for the first quarter of 2011, it expects earnings to be approximately 2 cents a share, well below consensus EPS of 5 cents a share.
Analysts at Pacific Crest analysts downgraded ACLS’s shares rating from a “sector perform” to an “underperform”.
Axcelis Technologies, Inc. (Axcelis) designs, manufactures and services ion implantation, dry strip and other processing equipment used in the fabrication of semiconductor chips.
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