KLAC ($40) profit down 21 percent
Wednesday April 23, 4:45 pm ET
Apr 23 2003
5:29 PM In Play KLA-Tencor guides below consensus (KLAC) 40.60 -1.26: -- Update -- On call, KLAC indicates that visibility is limited and management continues to be cautious regarding the environment. Firm expects Q4 (Jun) revenues of $300-310 mln and EPS of approximately $0.14... The current Reuters Research consensus estimate is for $322 mln in revenues and EPS of $0.15.
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NEW YORK, April 23 (Reuters) - KLA-Tencor Corp. (NasdaqNM:KLAC - News), a maker of tools used in microchip production, said on Wednesday quarterly profit fell 21 percent, but still managed to beat analysts' estimates, as cost cutting failed to offset the long downturn in the technology sector.
In its fiscal third quarter ended March 31, the San Jose, California-based company said it earned $27 million, or 14 cents per share, compared to a year-earlier profit of $34 million, or 17 cents a share.
Analysts on average expected earnings in a range of 11 cents to 13 cents, with an average estimate of 12 cents, according to a poll of 24 analysts by market researcher Thomson First Call (News - Websites).
KLA-Tencor, which ended the quarter with about six months of shipment backlog, reported revenue of $304 million, down from $357 million for the same period a year ago.
Shares of the company closed down 94 cents at $40.92 on the Nasdaq before its earnings report. |
