Axcelis' Q1 up 16%, but lowers forecast for Q2
Semiconductor Business News
(04/19/01 18:15 p.m. EST)
BEVERLY, Mass. -- Axcelis Technologies Inc. today announced sales of $225.9 million for its first quarter ended March 31, down 16% sequentially but up 11% from the like period a year ago.
Net income was $16.2 million in the quarter, compared to $18.9 million in the like period a year ago. Earnings per share for the first quarter of 2001 were $.17 per share compared to $.24 per share.
Brian Bachman, vice chairman and CEO, said the results were in line with the company's previous guidance, but he reduced the forecast for the second quarter.
"We are in the midst of a cyclical downturn in our industry which has resulted in a continuing degradation in customer orders around the world," he said. "Our current projection for second quarter net revenues is in the range of $100 million, and we have limited visibility beyond the second quarter at this time," he said.
"We previously indicated that we expected to be profitable at a quarterly net revenue trough of $125 million," he said. "After initiating cost reduction activities late last year and in the first quarter of 2001, we now believe that our net income for the second quarter will be around breakeven, though we cannot provide assurance that we will be profitable in the second quarter." |
