Axcelis Technologies Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Axcelis Technologies (ACLS) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $28.58 million, or $0.88 per share. This compares with $51.59 million, or $1.57 per share, last year.

Excluding items, Axcelis Technologies reported adjusted earnings of $33.78 million or $1.04 per share for the period.

Analysts on average had expected the company to earn $0.38 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 23.7% to $192.56 million from $252.37 million last year.

Axcelis Technologies earnings at a glance (GAAP) :

-Earnings: $28.58 Mln. vs. $51.59 Mln. last year. -EPS: $0.88 vs. $1.57 last year. -Revenue: $192.56 Mln vs. $252.37 Mln last year.

For the second quarter, Axcelis expects revenues of approximately $185 million. Earnings per share is expected to be nearly $0.57, and adjusted earnings per share of about $0.73. Analysts expect the company to report earnings of $0.50 per share on revenue of $189.23 million.