reported a third-quarter profit of 5 cents a share after the close Monday, beating analysts' estimates by a penny.
But revenue fell to $15.1 million from $23.4 million in the year-ago period. The company attributed the dropoff to order delays and cancellations. The company also warned that fourth-quarter revenue will be 20% to 30% lower than this year's third quarter.
Rudolph expects to remain profitable, and the company has recently taken steps, including job cuts, to balance operating costs with the downturn in demand. The workforce reductions are on top of the downsizing effort implemented when the company first started to experience the impact of the downturn earlier this year.