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ACLS NEWS : Thursday, November 5, 2009, 5:00PM. Eastern Axcelis Technologies, Inc. (Nasdaq:ACLS) today announced improved financial results for the third quarter ended September 30, 2009. The Company reported third quarter revenue of $35.0 million, compared to $33.6 million for the second quarter of 2009. Net loss for the third quarter was $15.9 million, or $0.15 per share. This compares to a net loss for the second quarter of 2009 of $22.4 million, or $0.22 per share of which $4.1 million ($.04 per share) was attributable to restructuring charges. In the corresponding quarter for the previous year, the Company reported revenue of $46.5 million, and a net loss of $24.7 million, or $0.24 per share. Balance Sheet Cash and cash equivalents, including restricted cash, were $48.5 million at September 30, 2009. Cash burn ($8.5 million in the third quarter of which $2.4 million was attributable to restructuring costs) continues to decline and we expect to approach cash flow break even in the fourth quarter of 2009. The Company ended the quarter with working capital of $177.5 million. Working capital management remains a focus to enhance cash flow. During 2009 the Company has reduced inventories by $17.2 million through the sale of product on hand. Commenting on the Company's performance, Mary Puma, chairman and CEO, stated, "We're pleased to report improving financial results this quarter in terms of reducing our losses and slowing our cash burn. Actions taken to reduce operating expenses and increase efficiencies throughout the organization are having, and will continue to have, a positive effect on cash flow and profitability. In fact, we expect to approach cash breakeven in the fourth quarter, as increased fab utilization drives aftermarket business and new systems orders." She added, 'We've also made solid progress with our product portfolio through enhancements to productivity and advanced process capabilities. Consequently, we are well positioned to meet customers' technology demands and benefit from enhanced earnings leverage moving into 2010." Third Quarter 2009 Conference Call The Company will also be hosting a conference call today at 5:00 pm ET to discuss results for the third quarter of 2009. The call will be available to interested listeners via an audio webcast at Axcelis' home page at www.axcelis.com, or by dialing 1-888-680-0892 (1-617-213-4858 outside North America). Participants calling into the conference call will be requested to provide the passcode: 99888481. Webcast and telephone replays will be available from 8 pm ET on November 5, 2009 until 11:59 pm on February 5, 2010. Dial 1-888-286-8010 (1-617-801-6888 outside North America), and enter conference ID code#71293614. 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