Electro Scientific Industries | $ESIO Stock | Shares Rise as Company Posts First Quarter Profits

Electro Scientific Industries

Electro Scientific Industries, Inc. (NASDAQ: ESIO)


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

Electro Scientific reported first quarter profits of $2.9 million with earnings at a loss of  $0.38 per share. Electro Scientific reported fiscal first quarter revenues of $72.7 million.   


Electro Scientific Industries, Inc. CEO’s  Comments

Michael Burger, CEO of ESI, stated, “We started this fiscal year with another strong quarter, delivering year over year growth in orders, revenues, backlog, and earnings. Sales grew by more than 50% compared to the same quarter last year. Further, I am pleased with the progress we have made on our restructuring program, which is nearly complete. With healthy market conditions and a solid product portfolio, we expect strong second quarter revenue and profit growth year over year.”

Burger continued, “Orders in the first quarter more than doubled from a year ago to $76.6 million, driven by flex drilling and good demand in Service and Component Test. We also received another multi-unit order for our nViantTM drilling tool for high-density interconnect circuit boards. Lastly, we received follow-on orders for our UltrusTM wafer scribing tool after a lengthy evaluation and selection process.”  Globe Newswire


ESIO Technical Analysis

Electro Scientific Industries

ESIO opened trading yesterday at $8.72 which was down from the previous day’s trading close of $8.73. ESIO closed trading yesterday at $8.48 and spiked up after market to $10.10, equivalent to a 19% increase from the closing price. Taking a look at the daily chart we can see the last time ESIO traded above these levels we have to go back to March 17th, 2014 when it traded at lows of $10.30.

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 April 13th when it traded at $6.25. ESIO has a float of 32.43 million shares and traded 1.62 times the normal daily trading volume on Wednesday.

For trading purposes, I would like to see ESIO open trading on Thursday above $9.50 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 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. Electro Scientific Industries, Inc. was founded in 1944 and is headquartered in Portland, Oregon.  Yahoo Finance