BEVERLY, Mass. (AP) — BEVERLY, Mass. (AP) — Axcelis Technologies Inc. (ACLS) on Wednesday reported third-quarter net income of $48.6 million.

The Beverly, Massachusetts-based company said it had profit of $1.49 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.

The semiconductor services company posted revenue of $256.6 million in the period.

Axcelis expects full-year earnings to be $1.25 per share, with revenue expected to be $245 million.

Axcelis shares have fallen 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $88.12, a decrease of 32% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACLS at https://www.zacks.com/ap/ACLS