FSI Intl reports wider third-quarter loss
MINNEAPOLIS, June 18 (Reuters) - Chip equipment maker FSI International Inc. (NasdaqNM:FSII - News) on Tuesday reported a wider fiscal third-quarter net loss and said it expects revenue to improve in the fourth quarter, based on current orders.
For the third quarter, ended May 25, the Minneapolis-based company reported a net loss of $8.9 million, or 32 cents per diluted share, compared with a net loss of $4.6 million, or 18 cents per diluted share, for the third quarter of fiscal 2001. Sales fell to $28.9 million from $48.8 million.
Wall Street analysts on average expected the company to post a loss of 41 cents a share, according to Thomson First Call.
For the fourth quarter, FSI said it anticipates revenue to increase from the third quarter's $28.9 million, but a portion of the expected revenue is subject to acceptance from customers and actual shipments for the quarter were projected to be $23 million to $28 million.
As a result, FSI said it expects a loss in the $7 million to $9 million range for the fourth quarter. The current First Call estimate is for a loss of 25 cents a share. |
