Axcelis Technologies, Inc.(NASDAQ: ACLS) announced that for the second quarter of 2011, it expects revenue to be in the range of $85-$92 million and earnings to be about $0.02 per share (EPS). According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.04 on revenues of $95 million for the second quarter of 2011.

Craig Hallum analysts downgraded shares of Axcelis Technologies Inc (NASDAQ: ACLS) from a “buy” rating to an “accumulate” rating