FSI International (FSII)

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(FSII)....DOW JONES NEWSWIRES

FSI International Inc. (FSII) swung to a fiscal third-quarter profit--its second in a row after a string of losses--on a big jump in revenue and sharply higher margins.
But shares--which hit a 3 1/2-year high Monday--fell 3.7% to $4.41 in after-hours trading as the microelectronics-equipment maker predicted fourth-quarter earnings of $5 million to $6 million on revenue of $27 million to $30 million. Analysts on average estimated $5.5 million and $29.4 million, respectively, according to Thomson Reuters.
FSI--which supplies equipment used at key production steps to make microelectronics, including semiconductor devices--cited higher-than-expected orders when it raised its quarterly guidance last month. The semiconductor industry is in the midst of a rebound from early last year's slumping demand.
For the period ended May 29, FSI reported a profit of $5.9 million, or 18 cents a share, compared with a year-earlier loss of $2.8 million, or 9 cents a share. Revenue jumped 86% to $28.7 million.
FSI last month doubled its earnings guidance to $5 million to $6 million and raised its revenue forecast to $27 million to $29 million.
Gross margin climbed to 47.9% from 28%.
Orders were $29.5 million, the high end of the company's boosted guidance.