PORTLAND, OR -- Electro Scientific Industries today said preliminary revenues for its fiscal 2018 third quarter ended Dec. 30 exceeded previous company guidance.
For the third quarter ESI expects to report revenue of $106 to $111 million, ahead the company forecast of $80 million to $90 million issued Nov. 1. The company also expects to report third quarter bookings of approximately $134 million, up from $44.1 million in the third quarter of 2017.
The company anticipates reporting its full third quarter financial results on Jan. 31.
“I’m pleased the market conditions we experienced in the summer of 2017 continued into the December quarter, enabling us to deliver another exceptional quarter with both our top and bottom line results projected to exceed expectations,” stated Michael Burger, President and CEO of ESI. “Our strong results continue to be driven primarily by capacity expansion in the flexible circuit market which generated strong demand for our industry-leading laser drilling products.”
Burger added, “Given the strong third quarter demand, our currently elevated backlog position and our visibility into the current buy cycle, we now expect fourth quarter 2018 and first quarter 2019 revenues to approximate the same level as the third quarter.”