News Article
Sales and profits decline at Aixtron
Aixtron has made a slight downwards revision of its forecast for full year results after it posted a larger than expected drop in third quarter profits and sales.
MOCVD tool manufacturer Aixtron has reported that earnings for the third quarter ending September 2002 fell to EUR 4.6 million ($4.58 million) from EUR 15.8 million in the year-ago quarter. Sales fell to EUR 35.3 million from EUR 61.9 million.
Seven analysts polled by the Reuters news agency had forecast an average of earnings of EUR 6.6 million and sales of EUR 37 million.
Aixtron said it now expects 2002 profits after tax to fall to EUR 17-20 million compared with its previous forecast of EUR 20 million and predicted full year sales of EUR 150-160 million compared with its earlier forecast of EUR 160 million. Sales for 2001 were EUR 240 million.
