Axcelis Technologies (ACLS) reported Q4 earnings late Monday of $1.54 per diluted share, down from $2.15 a year earlier.

Analysts polled by FactSet expected $1.25.

Revenue for the quarter that ended Dec. 31 was $252.4 million, down from $310.3 million a year earlier.

Analysts surveyed by FactSet expected $245 million.

The company said it expects Q1 earnings of $0.38 per diluted share on revenue of about $185 million. Analysts polled by FactSet expect $1 and $221.6 million, respectively.

Shares of Axcelis Technologies were down 7.6% in after-hours activity.