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Axcelis Announces $35 Million Share Repurchase ProgramBEVERLY, Mass., Jan. 14, 2019 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today announced that its Board of Directors has authorized a one year share repurchase program of up to $35 million of the Company's common stock. President and CEO Mary Puma commented, "The Board's authorization of the share repurchase program reflects our continued confidence in Axcelis' financial performance and long-term outlook. Our strong balance sheet and cash flow enable us to simultaneously return cash to shareholders through share repurchases, while investing in internal and external opportunities to strengthen our product lines and drive long-term growth." Puma added, "We reiterate Q4 guidance and remain confident that Axcelis will exit 2018 with fourth quarter revenues of approximately $100 million. We also expect gross margin in the fourth quarter to be around 40%. Fourth quarter operating profit is forecasted to be approximately $10.5 million. Earnings per share is expected to be approximately $0.20." Repurchases of the Company's common stock will be made from time to time under the SEC's Rule 10b-18, subject to market conditions. These shares may be purchased in the open arket or through privately negotiated transactions. The Company has no obligation to repurchase shares under the authorization, and the timing, actual number and value of shares which are repurchased will depend on a number of factors, including the price of the Company's common stock, general business and market conditions, and alternative investment opportunities. The Company may suspend or discontinue the repurchase program at any time. Safe Harbor Statement About Axcelis: Company Contacts Investor Relations: Editorial/Media: View original content to download multimedia:http://www.prnewswire.com/news-releases/axcelis-announces-35-million-share-repurchase-program-300776964.html SOURCE Axcelis Technologies, Inc. |