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FEI Reports Record Bookings And Revenue For The Fourth Quarter And Full Year 2012

Stocks in this article: FEIC

Q4 Revenue of $230.9 million; Q4 Bookings of $230.5 million

Full-year 2012 Revenue Up 8%; Full-year Bookings Up 13%

Q4 Diluted GAAP EPS of $0.72

HILLSBORO, Ore., Feb. 6, 2013 (GLOBE NEWSWIRE) -- FEI Company (Nasdaq:FEIC) reported record bookings and revenue for 2012 and for the fourth quarter. Fourth quarter revenue of $230.9 million was up 8% compared to $213.0 million in the fourth quarter of 2011 and up 4% from $221.8 million in the third quarter of 2012.

The gross margin in the fourth quarter was 47.2%, compared with 44.4% in the fourth quarter of 2011 and 47.0% the third quarter of 2012.

The comparison between the fourth quarter of 2011 and 2012 of earnings per share computed on the basis of accounting principles generally accepted in the United States ("GAAP") was affected by several items, as detailed below and in the attached table. Compared with the fourth quarter of 2011, GAAP earnings per share were unchanged, while non-GAAP earnings per share were up 22%.

GAAP net income for the fourth quarter was $29.8 million or $0.72 per diluted share, similar to the $29.1 million or $0.72 per diluted share in the fourth quarter of 2011 and $29.2 million or $0.71 per diluted share in the third quarter of 2012. Non-GAAP net income was $31.9 million or $0.77 per diluted share in the fourth quarter of 2012, compared with non-GAAP net income of $25.4 million or $0.63 per diluted share for the fourth quarter of 2011. Details of the items excluded for non-GAAP results and management's reasons for including this information are included below.

For the fourth quarter of 2012, net bookings were $230.5 million, an increase of 13% from net bookings of $203.6 million in the fourth quarter of 2011 and an increase of 3% from $223.3 million in the third quarter of 2012. The backlog at the end of the quarter was $424.8 million.

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