Axcelis Technologies Inc. (Beverly, MA) announced results for its fourth quarter and full year ended December 31, 2001. Worldwide sales for the quarter were $62.7 million, down 43 percent sequentially from the third quarter of 2001, and down 77 percent from the fourth quarter of 2000. Net sales for the quarter were $49.3 million, down 20 percent sequentially from the third quarter of 2001, and down 74 percent from the fourth quarter of 2000. Net loss for the fourth quarter of 2001 was $18.0 million, compared to net income of $30.2 million in the fourth quarter of 2000.
For the full year, worldwide sales were $551.7 million, down 41 percent from 2000. Net sales were $365.3 million, down 46 percent from 2000. Net loss for the full year was $20.2 million, compared with net income of $99.1 million in 2000. Net loss per share for the full year was $0.21, compared to earnings per share of $1.13 in 2000. Excluding amortization of goodwill and intangibles, the company had a net loss per share of $0.11, compared with earnings per share of $1.23 in 2000.
Net loss per share for the fourth quarter of 2001 was $0.18, compared to earnings per share of $0.31 in the fourth quarter of 2000. Excluding amortization of goodwill and intangibles, the company had a net loss of $0.16 per share in the fourth quarter of 2001, compared to earnings of $0.33 per share in the fourth quarter of 2000.
Neil Moses, executive vice president and CFO, said, "We met our fourth-quarter guidance despite continued weak market conditions and incurring $3.0 million in pre-tax charges associated with the consolidation of our manufacturing facilities, which was announced in November 2001. We are focused on controlling our expenses and prudently managing our headcount, as evidenced by the fact that our quarterly SG&A has decreased 31 percent since the fourth quarter of last year. At the same time, we have continued our investment in research and development so that we can benefit from the industry's ongoing transition from 200mm to 300mm wafers, and so that we are well positioned when the industry recovers."
