Mattson Technology Inc. (NASDAQ:MTSN) had a loss 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.
Mattson Technology Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.12 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Decreased 60% to $20.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mattson Technology Inc. reported adjusted EPS loss of $0.12 per share. By that measure, the company beat the mean analyst estimate of $-0.13. It missed the average revenue estimate of $20.55 million.
Quoting Management: “Our financial performance for the first quarter of 2013 met our expectations as we continued to execute on our cost reduction initiatives while maintaining our focus on strengthening our positions at key customers,” noted Fusen Chen, Mattson Technology’s president and chief executive officer. “We have sized the company for a return to profitability once industry demand improves, and with the recently closed credit facility we will be able to take further advantage of the improvement in customer demand that we anticipate in the second half of the year.”
Key Stats (on next page)…
Revenue decreased 2.6% from $20.74 million in the previous quarter. EPS decreased to $-0.12 in the quarter versus EPS of $-0.10 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.09 to a loss $0.05. For the current year, the average estimate has moved up from a loss of $0.28 to a loss of $0.17 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)