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Semiconductor capital equipment maker KLA-Tencor (KLAC – 41-3/4) is the latest semiconductor name to warn that it will not make its estimates for this quarter. The company had previously projected earnings of 58 cents. The Street's estimate was for 51 cents, compared to 38 cents last year. The new projection offered by KLAC is eight to ten percent lower sales than their previous guidance for the quarter. They did not offer a specific profit figure, but actual earnings will be released April 18.
The stock was halted from trading after hours last night, as the news was being disbursed. In pre-market activity, KLAC shares are less than one point lower, indicating the news was no surprise to investors. The shares gained about eight percent during yesterday's session. <