Mattson Technology Inc. (NASDAQ:MTSN) 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.
Mattson Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.1 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Decreased 50.35% to $20.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mattson Technology Inc. reported adjusted EPS loss of $0.1 per share. By that measure, the company beat the mean analyst estimate of $-0.14. It beat the average revenue estimate of $17.17 million.
Quoting Management: “We finished the year continuing our strong execution against our cost reduction and gross margin improvement programs. Year over year, despite the decrease in industry demand in the second half of 2012, we improved our gross margin by five percentage points and excluding restructuring charges, reduced our operating expenses by $11.8 million,” noted Fusen Chen, Mattson Technology’s president and chief executive officer. “In addition, leaving the first quarter of 2013 with the completion of Phase IV of our cost-reduction program, we expect our quarterly operating expense run-rate to approximate $10 million and our quarterly net sales cash flow breakeven level to be mid to high $20 million.”
Key Stats (on next page)…