Cymer Inc. (CYMI) Stock Soars on Earnings
Cymer Inc., which makes deep-ultraviolet laser lights for chip makers, said Thursday its second-quarter profit rose 9 percent to solidly beat Wall Street's expectations -- despite falling revenue.
For the quarter ended June 30, net income rose to $24.9 million, or 67 cents per share, from $22.6 million, or 55 cents per share, in the prior-year quarter.
Analysts polled by Thomson Financial expected earnings of 51 cents per share.
Lower costs help boost profits as costs of product sales fell 20 percent and sales and marketing costs dropped 22 percent in the quarter.
Revenue, though, tumbled 19 percent to $122.9 million from $135.4 million in the second quarter of 2006. Analysts predicted revenue of $126.4 million.
For the quarter ended June 30, net income rose to $24.9 million, or 67 cents per share, from $22.6 million, or 55 cents per share, in the prior-year quarter.
Analysts polled by Thomson Financial expected earnings of 51 cents per share.
Lower costs help boost profits as costs of product sales fell 20 percent and sales and marketing costs dropped 22 percent in the quarter.
Revenue, though, tumbled 19 percent to $122.9 million from $135.4 million in the second quarter of 2006. Analysts predicted revenue of $126.4 million.
Labels: Cymer Inc., CYMI
posted by Stock Administrator @ 3:05 PM
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