DuPont Photomasks Falls on Warning - TheStreet

DuPont Photomasks Falls on Warning

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DuPont Photomasks (DPMI) was down 11.9% in midmorning after the company warned its fourth-quarter revenue would be between $91 million and $98 million, vs. the year-ago period's $93.4 million.

The semiconductor equipment maker said earnings will be between break-even and 19 cents a share, down from last year's 49 cents and below analysts' estimates of 52 cents.

The company said it would cut 120 jobs, or about 6% of its workforce, and record a charge of between $26 million and $30 million. DuPont Photomasks also announced a joint venture with

Micron Technology

(MU) - Get Report

to develop advanced chips.

Micron was down 2.9%.