Axcelis Technologies Earnings: Here’s Why the Stock is Down Now
Axcelis Technologies Inc. (NASDAQ:ACLS) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.71%.
Axcelis Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.04 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Decreased 19.64% to $47.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Axcelis Technologies Inc. reported adjusted EPS loss of $0.04 per share. By that measure, the company beat the mean analyst estimate of $-0.05. It beat the average revenue estimate of $46.03 million.
Quoting Management: Chairman and CEO Mary Puma said, “Second quarter results were in line with our forecast, reflecting our expectations for an improving market in 2013. During this last industry downturn we invested in our competitive Purion platform, improved our financial position and strengthened our team. We have received positive feedback from our customers regarding these initiatives and as the industry picks up, we expect to capitalize on these investments.”
Key Stats (on next page)…
Revenue increased 16.62% from $40.73 million in the previous quarter. EPS decreased to $-0.04 in the quarter versus EPS of $-0.07 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.03 and has not changed. For the current year, the average estimate is a loss of $0.12, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)