BEVERLY, Mass. (AP) — BEVERLY, Mass. (AP) — Axcelis Technologies Inc. (ACLS) on Tuesday reported fourth-quarter net income of $34.3 million.

On a per-share basis, the Beverly, Massachusetts-based company said it had net income of $1.10. Earnings, adjusted for one-time gains and costs, came to $1.49 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The semiconductor services company posted revenue of $238.3 million in the period.

For the year, the company reported profit of $120.2 million, or $3.80 per share. Revenue was reported as $839 million.

For the current quarter ending in March, Axcelis expects its per-share earnings to be 71 cents.

The company said it expects revenue in the range of $195 million for the fiscal first quarter.

Axcelis shares have increased 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $98.50, a rise of 61% 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