How Ultra Clean Holdings Inc. Shares Fell 24% Today

Shares of Ultra Clean Holdings (NASDAQ: UCTT) fell as much as 23.9% in Thursday's morning session. The maker of manufacturing equipment for the semiconductor industry reported mixed earnings on Wednesday night, and investors were quick to fixate on Ultra Clean's earnings miss.

Ultra Clean's third-quarter sales jumped 66% higher, compared to the year-ago period, to land at $243 million. On the bottom line, adjusted earnings more than tripled to $0.62 per share.

Analysts were looking for earnings near $0.64 per share on revenue in the neighborhood of $240 million. The sales result was near the top end of management's guidance while earnings fell to the bottom end of the official guidance range.

Source: Fool.com