Semitool shares rise on 4Q guidance

Semitool shares rise after it raises 4Q revenue guidance on strong bookings

• On 3:27 pm EDT, Tuesday October 6, 2009

KALISPELL, Mont. (AP) -- Shares of Semitool Inc., which makes wafer-processing equipment for chip manufacturers, rose on Tuesday after it raised fourth-quarter revenue guidance and said bookings were $71.7 million, well ahead of recent periods.

The U.S.-based company said about 63 percent of the bookings came from Asia-based customers. Shares advanced 9 percent.

"The success of our Asian market strategy has significantly elevated our potential sales ceiling as we approach the next capital spending cycle," said Larry Murphy, Semitool's president and chief operating officer.

Last year, the company reported gross fourth-quarter bookings of $50.3 million and net bookings of $35.5 million. In third quarter 2009, it booked orders of $32.6 million.

The Kalispell, Mont., company said it now expects quarterly revenue between $46 million and $47 million. It had previously expected revenue to come in between $40 million and $42 million.

Semitool plans to report results after the market closes on Nov. 5.

Its shares jumped 80 cents, to $8.93 in afternoon trading. It had touched a high of $8.99.