WASHINGTON (dpa-AFX) - Semicondcutor equipments manufacturer Ultratech, Inc. (UTEK) Thursday posted higher profit for the first quarter on the back of increased revenue. Earnings per share,however, were just shy of Street estimates.
For the period, the company posted net income of $13.69 million or $0.48 per share, higher than prior-year net income of $10.2 million or $0.38 per share.
Six analysts, on average, polled by Thomson Reuters estimated earnings per share of $0.49 for the period. Analyst estimates typically exclude one-time items.
Revenue for the three months was $60.64 million, up from $49.57 million a year ago. Analysts were looking for still higher revenue of $65.29 million.
Looking ahead, the firm said it sees the near-term business environment as uncertain, but expects that market conditions might improve as a result of anticipated increases in semiconductor capital equipment spending in the second half of the year.
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