This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ESI Announces Fourth Quarter Fiscal 2012 Results

Stocks in this article: ESIO

Electro Scientific Industries, Inc. (NASDAQ:ESIO), a leading supplier of innovative laser-based manufacturing solutions for the microtechnology industry, today announced results for its fiscal 2012 fourth quarter and year ended March 31, 2012. Financial measures are provided on both a GAAP and non-GAAP basis, which excludes the impact of purchase accounting, equity compensation, restructuring charges, and non-recurring items.

Revenue in the fourth quarter was $45.5 million, compared to $49.8 million in the third quarter of 2012 and $71.6 million in the fourth quarter of last fiscal year. On a GAAP basis, net loss was $7.7 million or $0.26 per share, and included $6.1 million of restructuring and non-recurring charges, compared to a loss of $1.9 million or $0.07 per share in the prior quarter. On a non-GAAP basis, fourth quarter net loss was $1.9 million or $0.06 per share, compared to net income of $0.5 million or $0.02 per diluted share in the third quarter of fiscal 2012 and income of $6.5 million or $0.22 per diluted share in the fourth quarter of fiscal 2011.

“Our fourth quarter results met our expectations, as we introduced new microfabrication products and capability, were disciplined in our spending, and made progress on our growth initiatives,” stated Nick Konidaris, president and CEO of ESI. “During the quarter we improved operational efficiency by focusing our resources and further implementing our ongoing globalization strategy.”

Orders for the fourth quarter increased to $70.3 million, compared to $45.4 million in the prior quarter. Konidaris continued, “Strong demand for our flex interconnect and advanced microfabrication products led to 55% sequential orders growth, despite continued overcapacity in the LED, DRAM, and component test markets.”

GAAP gross margin was 37.0%, down from 42.5% last quarter due to $2.0 million of non-recurring charges for inventory write-off in cost of goods sold and lower sales volume. Non-GAAP gross margin was 42.6% compared to 43.7% in the prior quarter. Operating expenses increased sequentially by $2.0 million due to approximately $4.1 million in restructuring and other non-recurring charges. Non-GAAP operating expenses decreased by $0.8 million to $21.5 million reflecting the impact of cost control measures. Non-GAAP operating loss was $2.1 million compared to a loss of $0.5 million in the third quarter.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs