This Day On The Street
Continue to site
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

ESI Announces Second Quarter Fiscal 2013 Results

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 2013 second quarter ended September 29, 2012. Financial measures are provided on both a GAAP and non-GAAP basis.

Revenue in the second quarter was $80.2 million, compared to $59.0 million in the first quarter of 2013 and $81.9 million in the second quarter of last fiscal year. On a GAAP basis, net income was $5.2 million or $0.17 per diluted share, compared to a loss of $0.9 million or $0.03 per share in the prior quarter and income of $8.5 million or $0.29 per diluted share in the second quarter of fiscal 2012. On a non-GAAP basis, second quarter net income was $7.0 million or $0.23 per diluted share, compared to income of $1.9 million or $0.06 per diluted share in the first quarter of fiscal 2013 and income of $9.3 million or $0.32 per diluted share in the second quarter of fiscal 2012.

“We delivered strong sequential growth in revenues and profitability, as we shipped most of the large microfabrication orders received in the June quarter,” stated Nick Konidaris, president and CEO of ESI. “Our Singapore factory shipped a record number of units, enabling us to meet customer commitments and driving solid operating margins.”

Net orders for the second quarter were $35.0 million, compared to $74.1 million in the prior quarter. Konidaris continued, “The order rate reflects the variability of our advanced microfabrication business, following the large design wins last quarter. However, overall microfabrication orders are up from last year for both the quarter and year to date.”

GAAP gross margin was 41.8%, up from 40.1% last quarter. Non-GAAP gross margin was 42.8% compared to 41.0% in the prior quarter. GAAP operating expenses were essentially flat, while non-GAAP operating expenses increased by $2.2 million due to higher variable expenses, the addition of Eolite and continued investment in our growth initiatives. Non-GAAP operating income was $10.5 million, or 13.1% of sales, compared to $2.7 million, or 4.5% of sales, in the first quarter.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs