Cabot Microelectronics Corp. (CCMP) reported second quarter net loss of $10.11 million or $0.44 per share, compared to a net income of $7.94 million or $0.34 per share in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report loss of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter decreased 52% to $45.4 million from $94.49 million in the prior year quarter. Analysts expected the company to report revenue of $44.64 million for the quarter.
The company expects its full year operating expenses to be in the range of $115 million to $120 million for fiscal 2009.
The company reiterates that it no longer expects to achieve gross profit within its previous full year guidance range of 46% to 48% of revenue for fiscal 2009.
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