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)…
Revenue increased 16.76% from $39.57 million in the previous quarter. EPS increased to $0.01 in the quarter versus EPS of $-0.03 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.14 and has not changed. For the current year, the average estimate has moved up from a profit of $0.52 to a profit of $0.55 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)