Axcelis Technologies Inc (ACLS)

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$ACLS..Axcelis Technologies..The Company reported second quarter revenue of $64.5 million, compared to $67.5 million for the first quarter of 2016. Operating profit for the quarter was $4.6 million, compared to $2.5 million for the first quarter. Net income for the quarter was $2.9 million, or $0.10 per diluted share. This compares to net income for the first quarter of 2016 of $1.9 million, or $0.06 per diluted share. Cash, cash equivalents and restricted cash were $67.8 million on June 30, 2016, compared to $74.4 million on March 31, 2016.

"During the second quarter, we made significant progress towards expanding our customer base through new penetrations and capacity buys, as well as offering new product line extensions to address emerging market needs," said President and CEO Mary Puma. "These actions position us well for a strong build cycle in 2017, which will drive continued market share gains."

Business Outlook

For the third quarter ending September 30, 2016, Axcelis expects revenues of $65-$70 million. Gross margin in the third quarter is expected to be in the mid 30% range. Third quarter operating profit is forecasted to be approximately $2.5-3.5 million with $0.03-0.06 earnings per diluted share.