Plasma Stock Price Drops With Industry Downturn

Plasma Materials & Technology, a Chatsworth maker of products used in semiconductor manufacturing, said its stock price fell sharply on the news that it expects a fourth-quarter loss due to a downturn in the semiconductor industry.

Consequently, demand for processing equipment has lagged.

The company said sales for the fourth quarter will be the same or lower than in the third quarter.

Shares in the company fell $2.50 to $12.25 per share at the market’s close on Monday, said Frederick Reynolds, spokesman for the firm.