Electro Scientific Industries Inc. (NASDAQ:ESIO) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Electro Scientific Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.03 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Decreased 12.95% to $39.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Electro Scientific Industries Inc. reported adjusted EPS loss of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It beat the average revenue estimate of $38.13 million.
Quoting Management: “During the quarter we continued to transform the company toward our growth initiatives in laser microfabrication for smart consumer electronics and announced a restructuring plan to improve efficiency,” stated Nick Konidaris, president and CEO of ESI. “The result will be a leaner and more focused company better able to drive profitable growth.”
Key Stats (on next page)…