Electro Scientific Industries (ESIO) Releases Earnings Results, Beats Expectations By $0.04 EPS

Electro Scientific Industries (ESIO) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.05. The company posted revenue of $47.70 million in the period, compared to analysts expectations of $50.75 million. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on Electro Scientific Industries. Company shares were Reiterated by Needham on May 11, 2016 to “Buy”, Firm has raised the Price Target to $ 9 from a previous price target of $8 .

Electro Scientific Industries (ESIO) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $6.77 and reached the intraday high at $6.79. The bulls started the profit booking and pushed the shares to intraday low of $6.6. The trading session was marked by a volume range of 1,95,525 shares exchanging hands. The 52-week high of the shares is $7.5575 and the 52-week low is $4.09. The market cap of the company stands at $213 M and there are 3,14,71,682 shares in public circulation.

In a different news, on May 16, 2016, Paul R Oldham (CFO, Sr. VP of Finance) sold 5,082 shares at $6.91 per share price. According to the SEC, on May 16, 2016, Bing-fai Wong (VP, Customer Operations) sold 10,000 shares at $7.11 per share price. On Mar 1, 2016, John K Medica (director) purchased 1,845 shares at $7.05 per share price, according to the Form-4 filing with the securities and exchange commission.

Electro Scientific Industries Inc. is a supplier of laser-based manufacturing solutions for the micro technology industry. The Company operates in two segments Component Processing and Micromachining. Its Component Processing segment includes interconnect products semiconductor products and component products. Interconnect semiconductor and component products are sold to manufacturers of electronic components and are used to drill cut trim ablate and test. The Company’s micromachining products are sold to manufacturers of end devices across multiple industries and are used to drill cut or mark features on a range of materials generally on the casing or external surface of the end device. The Company’s integrated solutions allow industrial designers and process engineers to control the power of laser light to transform materials.

Electro Scientific Industries

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