BEVERLY, Mass. (AP) — BEVERLY, Mass. (AP) — Axcelis Technologies Inc. (ACLS) on Tuesday reported first-quarter profit of $28.6 million.
On a per-share basis, the Beverly, Massachusetts-based company said it had net income of 88 cents. Earnings, adjusted for one-time gains and costs, came to $1.04 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The semiconductor services company posted revenue of $192.6 million in the period.
For the current quarter ending in June, Axcelis expects its per-share earnings to be 73 cents.
The company said it expects revenue in the range of $185 million for the fiscal second quarter.
Axcelis shares have declined 25% since the beginning of the year. The stock has decreased 53% in the last 12 months.
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