Mattson Technology lowers 2Q outlook; shares fall
Tuesday July 8, 5:44 pm ET
Mattson Technology lowers 2nd-quarter outlook on chip market weakness; shares fall
FREMONT, Calif. (AP) -- Semiconductor manufacturing equipment maker Mattson Technology Inc. lowered its second-quarter guidance Tuesday, saying ongoing weakness in the semiconductor market led to lower shipments to some major memory customers.
ADVERTISEMENT
Mattson projected an adjusted loss of 24 cents to 26 cents per share in the quarter, compared with a previous prediction for a loss of 10 cents to 17 cents per share.
The company said that including items it expects a loss of 13 cents to 15 cents per share.
Mattson also lowered its expectations for second-quarter revenue estimate to $35 million excluding royalty income. That compares with a prior expectation of $40 million to $42 million.
Analysts polled by Thomson Financial expect a loss of 11 cents per share on $42.5 million in revenue. Analyst estimates generally exclude special items.
The company said none of its revenue shortfall was due to competitive losses.
Mattson also said it expects to report gross margins of 34 percent, compared with previous guidance for 39 percent to 41 percent.
Mattson shares rose 8 cents to close at $4.92, but in after-hours electronic trading they lost 47 cents, or 9.6 percent, to $4.45. The stock has ranged from $4.54 to $11.76 over the past year
