Asyst Technology shares fall as company swings to 4Q loss
NEW YORK—Shares of chip-making equipment supplier Asyst Technology Inc. fell after the company said it swung to a fourth-quarter loss on a drop in sales.
The company reported net loss of $12.9 million or 26 cents per share compared with a profit of $3.4 million or 7 cents per share in the 2007 fourth-quarter.
Excluding one-time costs and gains, it lost 21 cents per share compared with a profit of 14 cents per share in 2007.
Sales fell to $94.3 million from $126.7 million in the 2007 fourth quarter.
Citigroup analyst Timothy M. Arcuri warned that the company cannot afford to let its profit margins drop much more, given that it already has "delicate" liquidity.
Automation technology company Adquest Systems Corp. and private equity firm Gores Group LLC said Tuesday they withdrew their offer to buy the company for $5 to $6 per share, saying Asyst declined to negotiate.
Shares of the Fremont, Calif.-based company fell 21 cents or 5.7 percent to $3.54 in afternoon trading. They have traded in the last year between $2.46 and $7.82.
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