Axcelis Technologies Results Beat Wall Street, Outlook Strong, Shares Up 7%

(RTTNews) - Shares of Axcelis Technologies Inc. (ACLS) gained 7% in the extended trading session on Wednesday after the company reported a fourth-quarter results that trumped analysts estimates and issued a strong outlook for the first quarter.

Beverly, Massachusetts-based Axcelis' fourth-quarter profit rose to $9.7 million or $0.29 per share from $8.5 million or $0.25 per share last year. On average, 6 analysts polled by Thomson Reuters estimated earnings of $0.16 per share for the quarter.

Fourth-quarter revenues were $107.7 million, up from $105.7 million last year. Analysts had a consensus revenue estimate of $95.77 million for the quarter.

Looking forward to the first quarter, Axcelis expects earnings of about $0.21 per share and revenues of around $115 million. Analysts currently expect earnings of $0.21 per share and revenues of $96.99 million.

ACLS closed Wednesday's trading at $25.89, up $0.64 or 2.53%, on the Nasdaq. The stock further gained $1.86 or 7.18% in the after-hours trade.