Axcelis Technologies (ACLS) reported Q2 adjusted earnings Tuesday of $1.13 per diluted share, down from $1.73 a year earlier.

Analysts polled by FactSet expected $0.73.

Revenue for the quarter ended June 30 was $194.5 million, down from $256.5 million a year earlier.

Analysts surveyed by FactSet expected $185.1 million.

The company said it expects Q3 non-GAAP earnings of about $1 per share on revenue of about $200 million. Analysts surveyed by FactSet expect non-GAAP earnings of $0.73 per share and revenue of $186.5 million.

The company's shares were up 10% in recent Tuesday premarket activity.