Shares in Cymer Inc. lost $6, or more than 17 percent of their value, in midday trading Jan. 30 after the company reported 2007 earnings and a dimmer forecast for the current quarter.
Cymer makes industrial-size laser light sources used for the creation of microchips. The company said it expects revenue in the current quarter to be 15 percent lower than revenue in the fourth quarter, “due primarily to slowing industry conditions.”
After the market closed Jan. 29, Cymer reported fourth-quarter net income of $21.4 million, or 67 cents per diluted share, on revenue of $139.9 million. Analysts polled by Reuters Estimates had expected 69 cents per share.
In the year-ago quarter, the company reported net income of $25.4 million, or 65 cents per diluted share, on revenue of $137.4 million.
For the year, Cymer said it received net income of $88.4 million, or $2.50 per diluted share, on revenue of $521.7 million. In 2006, Cymer received net income of $95.6 million, or $2.40 per diluted share, on revenue of $543.9 million.
Cymer shares are traded under the symbol CYMI on the Nasdaq exchange.
, Brad Graves