Axcelis Technologies, Inc. (ACLS) shares tumbled 18.99 percent, falling $18.73 to $79.77 on Wednesday, after the company reported weaker fourth-quarter earnings and a decline in revenue compared to the prior year.
The stock opened sharply lower at $79.28 versus the previous close of $98.50 and traded between $75.35 and $81.70 during the session on the Nasdaq. The last reported bid was $78.00 for 300 shares, with the ask at $96.46 for 200 shares.
Volume reached 1,608,657 shares, well above the average of 576,341. Shares have traded within a 52-week range of $40.40 to $102.93.
For the fourth quarter, net income totaled $34.29 million, or $1.10 per share, down from $49.95 million, or $1.54 per share, in the same period last year. Adjusted earnings were $46.35 million, or $1.49 per share. Revenue declined 5.6 percent to $238.33 million from $252.41 million a year ago, reflecting softer top-line performance.
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