BEVERLY, Mass., Jan. 12, 2016 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, announced today that it was updating guidance for the fourth quarter of 2015, prior to presenting at the 18th Annual Needham Growth Conference this week.
The Company now expects fourth quarter revenue of approximately $70 million, gross margins in the low 30% range and operating profit of approximately $2 million. Earnings per share are expected to be breakeven to $0.01 and our cash balance will be approximately $85 million.
Kevin Brewer, executive vice president and chief financial officer said, "Purion systems sales have been the driver of our top line in 2015. Gross margins in the fourth quarter will be slightly lower than guidance, impacted by the closure of one of our outstanding Purion H evaluation tools one quarter sooner than expected. We are pleased that 2015 has been a positive year for Axcelis in terms of market share growth and improved financial performance."
Safe Harbor Statement
This press release contains forward-looking statements under the SEC safe harbor provisions. These statements, which include our guidance for future financial performance, are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the timing of orders and shipments, the conversion of orders to revenue in any particular quarter, or at all, the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with and purchases by major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic, political and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.
Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 35 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.
Maureen Hart (editorial/media) 978.787.4266 Doug Lawson (investor relations) 978.787.9552
SOURCE Axcelis Technologies, Inc.