Axcelis Technologies Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Axcelis Technologies (ACLS) released a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $25.99 million, or $0.83 per share. This compares with $48.58 million, or $1.49 per share, last year.

Excluding items, Axcelis Technologies reported adjusted earnings of $37.90 million or $1.21 per share for the period.

Analysts on average had expected the company to earn $1.00 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 16.7% to $213.61 million from $256.56 million last year.

Axcelis Technologies earnings at a glance (GAAP) :

-Earnings: $25.99 Mln. vs. $48.58 Mln. last year. -EPS: $0.83 vs. $1.49 last year. -Revenue: $213.61 Mln vs. $256.56 Mln last year.

The company expects the fourth quarter revenue to be approximately $215 million.

The company also expects the fourth quarter Non-GAAP earnings per share of approximately $1.12.