Cymer 3Q profit doubles despite sales drop

SAN DIEGO (AP) — Cymer Inc., which makes lights used by semiconductor manufacturers, said Tuesday that its third-quarter profit more than doubled even though sales dropped because year-earlier results were depressed by unfavorable currency comparisons.

The San Diego-based company earned $10.8 million, or 36 cents per share, in the quarter that ended Sept. 30. That compares with $5.3 million, or 18 cents per share, in profit a year earlier. Cymer's results from a year ago were dragged down by $6.4 million due to a foreign currency exchange loss.

Analysts polled by Thomson Reuters expected 17 cents per share.

Revenue fell 17 percent to $92.3 million from $110.6 million. Analysts had expected $82 million.

The company also said it expected fourth-quarter revenue to be comparable to the third quarter's.

Cymer shares fell $1.50, or 3.9 percent, to $37.35 in aftermarket trading after closing at $38.85, down 12 cents, in the regular session.