Varian Semiconductor lowers revenue guidance

Chip manufacturing equipment maker Varian Semiconductor Equipment Associates Inc. of Gloucester lowered its fiscal first-quarter guidance today amid the economic turmoil, which has taken a big toll on the chip industry.

The company's shares fell 78 cents, or 4.2 percent, to $17.83 in late morning trading, having changed hands between $14.05 and $41.16 in the past 52 weeks.

For the quarter ended Jan. 2, the company expects to post a loss of 18 cents to 22 cents per share, including restructuring charges, and revenue of $105 million to $110 million.

Previously, Varian had expected sales of $115 million to $125 million.

Analysts polled by Thomson Reuters are expecting, on average, a loss of 4 cents per share on sales of $119.3 million. Analysts typically exclude one-time charges from their estimates. (AP)