Electro Scientific Industries Inc. (NASDAQ:ESIO) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Electro Scientific Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 83.33% to $0.01 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 21.66% to $46.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Electro Scientific Industries Inc. reported adjusted EPS income of $0.01 per share. By that measure, the company beat the mean analyst estimate of $0. It missed the average revenue estimate of $48.33 million.
Quoting Management: “The first quarter was a busy and productive one for ESI,” stated Nick Konidaris, president and CEO of ESI. “During the quarter we drove 17% revenue growth and returned to non-GAAP profitability. In addition, we acquired the GSI Semiconductor Systems business. More importantly, we made significant progress on several strategic growth initiatives.”
Key Stats (on next page)…