surged in late trading Tuesday after the company said it swung to a much-better-than-expected profit in the third quarter.
The Minneapolis company, which makes surfacing products for the microelectronics industry, earned $4.0 million, or 13 cents a share, in the three months to May 29, compared with a loss of $15.6 million, or 53 cents a share, last year. Revenue roughly doubled to $36.4 million.
Analysts were expecting the company to break even on revenue of $29.75 million in the third quarter. The stock was recently up 40 cents, or 5.5%, to $7.70 on the after-hours Instinet session.
FSI said it expects to earn $1 million to $2 million on revenue of $33 million to $36 million in the current fourth quarter. The guidance looks roughly in line with the First Call consensus for earnings of 5 cents a share on revenue of $35.3 million.