Axcelis Announces Third-Quarter 2002 ResultsOctober 23, 2002 by Jeff Shepard
Axcelis Technologies Inc. (Beverly, MA) announced results for its third quarter ended September 30, 2002. Worldwide sales for the quarter (including SEN, Axcelis' unconsolidated joint venture in Japan) were $136.6 million, down two percent sequentially from the second quarter of 2002, and up 25 percent from the third quarter of 2001.
Net sales (excluding SEN) for the quarter were $93.1 million, up five percent sequentially from the second quarter of 2002 and up 51 percent from the third quarter of 2001. Net income for the third quarter 2002 was $0.2 million, compared to a net loss of $16.2 million in the third quarter of 2001. The company reported break-even profitability on an EPS basis compared with a loss per share of $0.17 in the third quarter of 2001.
Worldwide revenue (including SEN) is expected to be in the range of $95.0 to $105.0 million and net revenue (excluding SEN) is expected to be in the range of $60.0 to 70.0 million. Gross margins should be in the 30-percent range and the company expects its loss per share to range from $0.08 to $0.10. Cash and cash equivalents are expected to remain flat in the fourth quarter.