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Ultra Clean's 4Q outlook outstrips Street view

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October 21, 2013 06:39 PM EST | AP


HAYWARD, Calif. — HAYWARD, Calif. (AP) — Chipmaking equipment services company Ultra Clean Holdings Inc. on Monday posted a third-quarter profit, reversing a loss from a year ago, and predicted fourth-quarter results above Wall Street forecasts. Its shares jumped after hours.

The company predicted it would post earnings of 14 cents to 18 cents per share in the fourth quarter through December, far higher than the 8 cents per share expected by analysts polled by FactSet.

Ultra Clean also forecast fourth-quarter revenue of $120 million to $125 million, more than the $113 million analysts were looking for.

Shares jumped 89 cents, or 12.5 percent, to $8 in after-hours trading following the release of results.

For the three months through Sept. 27, net income hit $2 million, or 7 cents per share, beating the 6 cents analysts were expecting. Revenue grew 6 percent to $107.2 million, just shy of the $107.7 million analysts were looking for.