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Electro Scientific Industries, Inc. (ESIO) supplies laser-based microfabrication solutions for the microtechnology industry worldwide.
It provides printed circuit boards, including laser via drilling systems for electrical interconnect applications; micro via drilling technology that addresses the changing applications in integrated circuit packages, multichip modules, and high density interconnect circuit boards; and ultraviolet laser processing systems comprising single-beam and multi-beam systems.
It also offers semiconductor manufacturing products comprising wafer marking equipment for use in serialization and wafer identification; wafer and circuit trim tools that adjust the electrical performance of semiconductor devices or hybrid circuits; and liquid crystal display (LCD) repair tools; and laser LCD repair systems to enhance the manufacture of flat panel displays.
In addition, the company provides component test products that combine high-speed small parts handling technology with real-time control systems to provide inspection solutions for manufacturers of multilayer ceramic capacitors and other passive components, such as capacitor arrays, inductors, resistors, varistors, and hybrid circuits.
Further, it offers industrial machining products, such as platforms for precision drilling, scribing, cutting, etching, routing, and marking various materials and devices; and laser systems to manufacturers of end devices for drilling, marking, and cutting. The company sells its products through direct sales and service offices, value-added resellers, and independent representatives.
The Company reported its third quarter results last night. Third quarter revenue was $110.8 million, compared to $33.8 million in the third quarter of last fiscal year. GAAP net income was $34.0 million or $0.94 per diluted share, compared to a net loss of $9.7 million or $0.29 per share one year ago. On a non-GAAP basis net income was $35.6 million or $0.99 per diluted share, compared to net loss of $7.6 million or $0.23 per share in the prior year's third quarter.
Prior to the earnings, shares had formed a bullish "flag" and higher share prices are exected for this stock.
Entry Point: $21.00
52-Weeks Trading Range: $6.17 - $27.72
Stop Loss: $19.95
Target Price: $23.30
ESIO closed at $20
