Axcelis Technologies Earnings: Here’s Why Shares are Down Now
Axcelis Technologies Inc. (NASDAQ:ACLS) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 8.27%.
Axcelis Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.08 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Decreased 26.01% to $40.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Axcelis Technologies Inc. reported adjusted EPS loss of $0.08 per share. By that measure, the company missed the mean analyst estimate of $-0.07. It missed the average revenue estimate of $43.56 million.
Quoting Management: Chairman and CEO Mary Puma said, “During the quarter our Purion M medium current ion implanter was selected for evaluation by two new customers, representing both memory and foundry market segments. Earlier this week we announced the introduction of the Purion XE, a high energy ion implanter, the second member of our Purion platform family. Our Purion platform is the foundation for all future generation Axcelis implanters. Purion products are key to our future success and will allow us to quickly capitalize on improving market conditions.”
Key Stats (on next page)…