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Technology Stocks : Axcelis Technologies, Inc. (ACLS) -- Ignore unavailable to you. Want to Upgrade?

To: Lance Bredvold who wrote (92)	11/10/2003 1:45:27 AM
From: Lance Bredvold	Respond to of 195

Hope this is the remainder of that article. SI refused to publish it in its entirety but by splitting in two parts it seems to work. I need to do more research on that SFS 101. "...Q3's results include the adoption of U.S. Staff Accounting Bulletin 101 procedures related to revenue recognition on shipments, adding to Axcelis' net loss by $10.3 million, or 10 cents per share. The $31.9 million loss also included restructuring costs of $4.7 million, or 5 cents per share, related to the company's layoffs announced last month. Under its prior accounting method, Axcelis revenue for the quarter would have been $125.2 million, up slightly from Q2's $123.3 million. Axcelis revenue of $78.6 million included revenue from its Japanese joint venture, Sumitomo Eaton Nova Corp. (SEN), of which the company owns half. Excluding that revenue, Axcelis' revenue for the quarter was $59 million. Axcelis net orders in Q3, excluding SEN, totaled $ 93.5 million, accounting for the 29 percent sequential increase. Worldwide orders, including SEN, totaled $161.9 million, up 15 percent. The company's backlog plus deferred revenue for the quarter ended at $80.6 million, an increase of 77 percent sequentially. The company says its reported backlog consists of systems only and excludes service contracts scheduled to ship within six months. For the current quarter, Axcelis expects revenue including SEN to be in the range of $150 million to $160 million on shipments of $155 million to $165 million. Net revenue, excluding SEN, will be in the range of $88 million to $93 million on shipments of $95million to $100 million. As for earnings, the company expects to break even in Q4."