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Varian Semiconductor 2Q profit falls on higher costs, taxes

By Associated Press
April 24, 2008 | Comments (0)

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Varian Semiconductor Equipment Associates Inc., which makes equipment used to manufacture semiconductors, said Thursday its fiscal 2008 second-quarter profit fell 11 percent on higher costs and taxes.

Profit for the quarter ended March 28 fell to $34.1 million, or 45 cents per share, from $38.4 million, or 46 cents per share, during the same period a year before. Revenue rose 6 percent to $255.4 million from $241.8 million

Analysts polled by Thomson Financial predicted a profit of 54 cents per share on revenue of $254.5 million.

Varian said a higher tax rate reduced earnings by about 10 cents per share.

Shares of Varian Semiconductor fell $1.37, or 4.1 percent, to $32 in after-hours trading. The stock earlier rose $1.77, or 5.6 percent, to close at $33.37. Shares have ranged from $27.34 to $58.17 over the past year.

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