Axcelis Technologies, Inc. (ACLS) has reported a 380.02 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $3.96 million, or $0.13 a share in the quarter, compared with $0.83 million, or $0.03 a share for the same period last year.
Revenue during the quarter went down marginally by 1.56 percent to $69.36 million from $70.46 million in the previous year period. Gross margin for the quarter expanded 767 basis points over the previous year period to 38.85 percent. Total expenses were 91.54 percent of quarterly revenues, down from 96.59 percent for the same period last year. This has led to an improvement of 504 basis points in operating margin to 8.46 percent.
Operating income for the quarter was $5.86 million, compared with $2.41 million in the previous year period.
"2016 was a strong year for the Purion platform as our customer base expanded significantly, and we successfully introduced several new product extensions," said president and chief executive officer Mary Puma. "We expect 2017 to be the start of a solid up cycle for the industry, with robust implant CAPEX spending, providing Axcelis with substantial opportunities for continued growth."
For the first-quarter, Axcelis Technologies, Inc. expects revenue to be $80 million. It projects operating income to be in the range of $7.50 million to $9 million. It forecasts diluted earnings per share to be in the range of $0.20 to $0.24 for the same period.
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