PORTLAND, OR -- Electro Scientific Industries reported fourth-quarter revenues rose 229% from a year ago to $59.6 million. Sales were up 53% sequentially.

Net income was $2.1 million, compared to a net loss of $2.4 million, for the period ended April 3.

“This quarter was a tremendous finish to our fiscal year,” said Nick Konidaris, ESI president and CEO. “Revenues more than tripled from last year’s fourth quarter, and we delivered solid profits and cash flow.”

Revenues for the year were $148.9 million, down 5% from 2009. The net loss was $12 million, compared to a net loss of $51 million in fiscal 2009.

Orders for the fourth quarter were $54.2 million, compared to $61.2 million in the prior quarter and $16.1 million in the prior year quarter. Excluding the large order received last quarter, overall orders grew almost 50% sequentially.

“We saw solid demand for flex interconnect, LED scribing and passive component test products, reflecting increased end-user demand and higher capacity utilization rates at our customers,” said Konidaris.

Based on current business conditions, ESI expects first-quarter fiscal 2011 revenue of $50 million to $55 million.

• Prev
• Next