Axcelis Technologies Inc (ACLS)

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Axcelis Announces Third Quarter 2011 Results
prnewswire

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Press Release Source: Axcelis Technologies, Inc. On Tuesday October 25, 2011, 4:00 pm EDT

BEVERLY, Mass., Oct. 25, 2011 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq:ACLS - News) today announced financial results for the third quarter ended September 30, 2011. Revenue for the third quarter was $72.5 million, compared with $93.4 million in Q2, and $75.1 million for the same period a year ago. Net income for the quarter was $1.2 million, or $0.01 per diluted share. Prior quarter net income was $4.2 million or $0.04 per diluted share, and in the prior year period, the company reported a net loss of $6.3 million or $0.06 cents per share. Cash and cash equivalents were $44.4 million on September 30, 2011.

Commenting on the Company's performance, Chairman and CEO Mary Puma said, "During the quarter Axcelis improved gross margins, reduced operating expenses, and generated $6.6M in cash, enhancing our financial position. We're operating very efficiently, despite the fact that it is a less than robust industry environment. Our investments in R&D have resulted in highly differentiated technology, driving enhanced yield and profitability for our customers, which will continue to expand our market position even during this period of soft demand."