FSI sees Q4 sales below expectation
MINNEAPOLIS, Sept 3 (Reuters) - FSI International Inc., which makes equipment for the microelectronics industry, said Friday it expected pro forma fiscal fourth quarter sales to be about $32 million, above last year's pro forma $28 million, but below its earlier forecast.
FSI had previously expected sales in the fourth quarter ended August 31, 1999, to be flat with the third quarter, when it recorded pro forma sales of $38 million.
The figures were adjusted to exclude the results from FSI's chemical management division, which it sold last month for about $38 million.
FSI did not provide any earnings projections. Analysts were expecting the company to show a loss of $0.28 a share in the fourth quarter, according to research firm First Call/Thomson Financial.
The company said several microlithography customers delayed orders, which led to the sales shortfall. FSI expected total fourth quarter orders for microlithography and surface conditioning products to be about $40 million, compared with $24 million a year ago. Backlog as of August 28, 1999, was
expected to be about $45 million.
FSI said it was in the process of closing its financial records and preparing financial reports, which are expected to be reported on October 12, 1999.
Shares of FSI closed up 3/8 at 7-1/4. |
