Shares of semiconductor manufacturing equipment maker Axcelis Technologies Inc. fell Thursday after the company reported a first-quarter profit and second-quarter earnings forecast below Wall Street estimates.
For the quarter ended March 31, the company on Wednesday posted earnings of $2.7 million, or 3 cents per share, up from $545,000, or a penny per share, for the first quarter of 2006. Revenue for the latest quarter was $97.5 million, down from $97.9 million in the year-ago period.
Analysts expected first-quarter earnings of 4 cents per share, according to a Thomson Financial survey.
The company projected second-quarter sales of $108 million to $118 million, and earnings of 3 cents to 7 cents per share.
Wall Street expects earnings of 10 cents per share on $114.2 million in revenue.
Shares of Axcelis Technologies fell $1.30, or 15.9 percent, to $6.90 in morning trading. (AP)