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Axcelis: 3Q Earnings Snapshot

BEVERLY, Mass. (AP) _ Axcelis Technologies Inc. (ACLS) on Thursday reported third-quarter profit of $704,000.

The Beverly, Massachusetts-based company said it had net income of 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The semiconductor services company posted revenue of $69.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $70.2 million.

For the current quarter ending in December, Axcelis said it expects revenue in the range of $92 million to $100 million.

Axcelis shares have increased roughly 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.17, an increase of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACLS at https://www.zacks.com/ap/ACLS