Electro Scientific Industries, Inc. | $ESIO Stock | Shares Increase on Better than Expected Revenue Numbers

Electro Scientific Industries

Electro Scientific Industries, Inc. (NASDAQ: ESIO)



Electro Scientific Industries, Inc. (ESIO), a global company that provides supplies laser-based manufacturing solutions for the microtechnology industry yesterday reported their fiscal fourth quarter 2017 financial results.

Electro Scientific reported fourth quarter loss of $17.9 million . Electro Scientific reported fourth quarter adjusted earnings of $0.09 per share. Electro Scientific reported fourth quarter revenues of $49.9 million.


Electro Scientific Industries, Inc. CEO’s  Comments

“The company had a strong quarter operationally with orders, revenues, and non-GAAP earnings exceeding expectations,” stated Michael Burger, president and CEO of ESI. “The seasonally strong orders resulted in our highest backlog in nearly five years and position us well as we enter fiscal 2018. I am also pleased with the progress we are making on our restructuring plan. Our new executive team is in place and we are on track with our plans to improve our consistency of earnings over time.”  Globe Newswire


ESIO Technical Analysis

Electro Scientific Industries
Electro Scientific Industries Chart

ESIO opened trading yesterday at $7.15 which was exactly the same as the previous day’s trading close. ESIO closed trading yesterday at $7.45 and spiked up after market to $9.20, equivalent to a 23% increase from the closing price. Taking a look at the daily chart we can see that the last time ESIO traded above these levels we have to go back to  the week of  April 14th, 2014 when it traded at $9.48.

Taking a closer look at the daily chart we can see that before the spike up ESIO had already been in an overall upward trend dating back to December 1st, 2016 when it traded at $5.11. ESIO has a float of 31.62 million shares and traded 1.21 times the normal daily trading volume on Tuesday.

For trading purposes, I would like to see ESIO open trading on Wednesday above $8.60 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.


Company Profile

Electro Scientific Industries, Inc., together with its subsidiaries, supplies laser-based manufacturing solutions for the microtechnology industry worldwide. The company operates in two segments, Component Processing and Micromachining. The Component Processing segment provides interconnect products, including laser via drilling systems for electrical interconnect applications; micro via drilling technology that addresses the changing applications in IC packages, multichip modules, and HDI circuit boards; and ultraviolet laser processing systems comprising single-beam and multi-beam systems.

It also offers wafer marking equipment for use in serialization and wafer identification; wafer and circuit trim tools, and liquid crystal display (LCD) repair tools; and laser LCD repair systems to enhance the manufacture of flat panel displays. In addition, this segment provides component manufacturing 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.

The Micromachining segment offers micromachining systems, 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 marking, cutting, and welding applications. The company sells its products through direct sales and service offices, value-added resellers, and independent representatives. Electro Scientific Industries, Inc. was founded in 1944 and is headquartered in Portland, Oregon.  Yahoo Finance