AP NEWS

Axcelis: 4Q Earnings Snapshot

February 5, 2020 GMT

BEVERLY, Mass. (AP) _ Axcelis Technologies Inc. (ACLS) on Wednesday reported fourth-quarter net income of $9.7 million.

The Beverly, Massachusetts-based company said it had net income of 29 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The semiconductor services company posted revenue of $107.7 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $95.9 million.

For the year, the company reported profit of $17 million, or 50 cents per share. Revenue was reported as $343 million.

For the current quarter ending in April, Axcelis said it expects revenue in the range of $115 million.

Axcelis shares have increased slightly more than 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.89, an increase of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACLS at https://www.zacks.com/ap/ACLS