Axcelis Technologies, Inc. (ACLS) has reported a 64.74 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $2.15 million, or $0.07 a share in the quarter, compared with $6.10 million, or $0.20 a share for the same period last year.
Revenue during the quarter dropped 17.23 percent to $65.65 million from $79.32 million in the previous year period. Gross margin for the quarter contracted 7 basis points over the previous year period to 36.72 percent. Total expenses were 94.47 percent of quarterly revenues, up from 90.30 percent for the same period last year. That has resulted in a contraction of 417 basis points in operating margin to 5.53 percent.
Operating income for the quarter was $3.63 million, compared with $7.69 million in the previous year period.
"Since the start of the year we have made significant progress on our penetration plans, placing Purion products in thirteen new customer fabs, including seven new customers and six new fabs for existing customers," said president and chief executive officer Mary Puma. "These Purion penetrations position Axcelis for success as the industry enters a strong investment cycle, creating a strong foundation for growth in both 2017 and 2018."
For the fourth-quarter 2016, Axcelis Technologies, Inc. projects revenue to be in the range of $65 million to $70 million. The company projects operating income to be in the range of $3 million to $4 million. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.04 to $0.08.
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