Integrated Measurement sees 4Q letdown

Order delays will mean lower-than-expected earnings for Integrated Measurement Systems (Nasdaq: IMSC).

After market close Tuesday, the maker of testing systems for electronics manufacturers said it now sees fourth quarter earnings ranging between 21 and 22 cents per share, on revenue of $17.7 million. The company previously expected to earn 31 to 33 cents per share.

First Call's survey of four analysts predicted a profit of 33 cents per share for Integrated's December quarter. A poll of two analysts produced a consensus revenue forecast of $19.6 million.

Shares of Integrated traded at 7 in afterhours activity on the Island electronic communications network, following the news. Integrated stock rose 0.8125 to 8.75 in Tuesday's regular trading ahead of the preannouncement.

Executives blamed its shortfall on a slowing economy that forced customers to delay orders in the last days of the quarter.

"We are concerned this cautiousness may persist into the first half of 2001, although we continue to believe the second half of next year will be strong," said Keith Barnes, chairman and CEO.>