BEVERLY, Mass. (AP) — BEVERLY, Mass. (AP) — Axcelis Technologies Inc. (ACLS) on Monday reported fourth-quarter earnings of $50 million.

The Beverly, Massachusetts-based company said it had profit of $1.54 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The semiconductor services company posted revenue of $252.4 million in the period.

For the year, the company reported profit of $201 million, or $6.15 per share. Revenue was reported as $1.02 billion.

For the current quarter ending in March, Axcelis said it expects revenue in the range of $185 million.

Axcelis shares have fallen slightly more than 4% since the beginning of the year. In the final minutes of trading on Monday, shares hit $66.90, a drop of 45% 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