NEW YORK ( TheStreet) -- Shares of FSI International (FSII) were slumping in extended trading after the Minneapolis-based maker of microelectronics manufacturing equipment issued a disappointing outlook for the first quarter.
The company was able to top Wall Street's expectations for its fiscal fourth-quarter profit but revenue came in at $28.8 million for the three months ended in August, below the average analysts' view of $29.4 million, and FSI projected a steep sequential decline in the current first quarter, estimating revenue will range from $10 million to $12 million because of the "timing of requested shipments" by several of its major customers. As a result, it sees a loss of $3.5 million to $4 million in the period.
That forecast compares to the current average estimate of analysts polled by
Thomson Reuters for earnings of 11 cents a share in the November period on revenue of $26.6 million.
The stock was last quoted at $2.67, down 13.3%, on after-hours volume of more than 200,00, according to Nasdaq.com. Based on Tuesday's regular session close of $3.08, the shares were up 3.1% so far in 2010, but the stock had fallen 40% since reaching a 52-week high of $5.17 on June 21.Another loser in late trades was Intuitive Surgical (ISRG - Get Report), which fell 3% to $270.60 on volume of roughly 525,000. The Sunnyvale, Calif.-based maker of robotic surgery systems reported earnings of $87 million, or $2.14 a share, for the three months ended Sept. 30, beating Wall Street's consensus view of $2.10 a share, but its revenue total of $344.4 million was short of the analysts' average estimate of $349.5 million. Based on Tuesday's regular session close at $279.04, Intuitive Surgical's stock was already down about 6% year-to-date. The volatile shares have seen a sharp comedown since hitting a 52-week high of $393.92 in mid-April, so the company's relatively modest beat -- a 2% surprise to the upside compared to an average positive surprise of 15% in the previous four quarters -- could spell trouble in Wednesday's session.
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