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.
