(RTTNews) -  Tuesday, crystalline products maker Rubicon Technology, Inc. (RBCN: News ) reported a loss for the third quarter, compared to a profit last year, mainly due to a decline in revenues. The company also provided guidance for the fourth quarter and announced its plans to add two crystal growth facilities in the U. S. and Asia.

Net loss for the third quarter was $2.06 million or $0.10 per share, compared to an income of $1.62 million or $0.07 per share in the previous year.

On average, eight analysts polled by Thomson Reuters expected the company to report loss of $0.09 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter declined to $5.74 million from $11.76 million last year, yet topped analysts' estimates of $5.21 million.

Costs of good sold for the quarter was $6.14 million, compared to $7.51 million in the previous year. Gross loss was $0.41 million, compared to gross profit of $4.24 million a year ago.
For the nine-month period, net loss was $8.87 million or $0.44 per share, compared to an income of $6.07 million or $0.27 per share in the same period of the previous year. Revenue for the period declined to $11.28 million from $33.80 million last year.

Looking forward, the company expects fourth quarter earnings to be about $0.05 per share on revenues of about $7.0 million. Analysts expect a loss of $0.04 per share on revenues of $6.71 million for the next quarter.

Further, the company said that it is intending some expansion plans, which includes adding an additional crystal growth facility in the U.S. and building a low cost post crystal growth processing facility in Asia. The company noted that it is currently working to finalize its plans, however both new facilities would be expected to open within twelve months and be fully operational within 24 months.

RBCN is currently trading at $13.77, down 0.32 or 2.27%, on a volume of 591K shares on the Nasdaq.

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by RTT Staff Writer

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