Cymer posts lower 3Q net income, higher revenue

SAN DIEGO -- Cymer Inc. said Friday that its third-quarter net income fell 13 percent as higher expenses, mainly for research and development, outpaced a slight revenue increase.

The company, which supplies light sources used by chipmakers, earned $9.8 million, or 31 cents per share, in the July-September period. That's down from $11.3 million, or 36 cents per share, in the same period a year earlier.

Revenue rose 2 percent to $131.5 million from $128.7 million.

Analysts, on average, were expecting earnings of 7 cents per share on revenue of $148.6 million, according to a poll by FactSet.

Cymer's operating costs rose 21 percent from a year earlier to $62.7 million.

Shares of Cymer climbed 49 cents to $79.66 in midday trading.