Shares of chip equipment maker KLA-Tencor (KLAC) are down $1.66, or 3.3%, at $48, after the company this afternoon reported fiscal Q4 revenue and earnings per share that topped analysts’ expectations, but forecast the current quarter’s results well below expectations.
Revenue in the three months ended in June were flat with the year-earlier period at $893 million, yielding EPS of $1.49.
Analysts on average had been expecting $874 million and $1.31 per share.
For the current quarter, the company projected revenue in a range of $700 million to $760 million, and EPS of 75 cents to 95 cents. That is below the average Street estimate for $830 million and $1.15.
During a conference call with analysts following the report, KLA management said “the industry demand outlook for the rest of 2012 has backed off recently.”
However even with slack demand, capacity for leading-edge foundry capabilities “remains tight,” management said.
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