Mattson shares drop after narrow miss on 2nd-quarter earnings and forecast

Mattson shares drop after miss on 2Q earnings

FREMONT, Calif. — Shares of Mattson Technology Inc. fell 13 percent Thursday, a day after the company posted a slightly bigger loss than expected for the second quarter and warned that it could miss estimates again in the third.

The company also filed with the Securities and Exchange Commission to raise up to $75 million by selling securities such as common and preferred shares, warrants or debt. The company said the money could be raised in one or multiple sales and that it did not have plans to sell any securities immediately.

The semiconductor equipment maker posted a loss of $8.4 million, or 17 cents per share, while analysts surveyed by Thomson Reuters expected a loss of 16 cents.

Revenue climbed to $32.1 million from $8.1 million, beating the average forecast of $31.1 million.

But the company said its loss in the quarter ending in September could be between 10 cents and 14 cents per share. Analysts expected the low end of that range at 10 cents.

Shares closed fell 32 cents, or 13 percent, to close at $3.20.