PORTLAND, OR -- Electro Scientific Industries today announced results fiscal 2017 third quarter revenue fell 22% from a year ago to $33.8 million.

The net loss for the quarter ended Dec. 31 was $9.7 million.

In a statement, Michael Burger, president and CEO of ESI, said, “We delivered top and bottom line results at the high end of our expectations in the third quarter, as revenues grew 14% sequentially. We also made progress on new product evaluation by customers, the integration of our Visicon acquisition, and repositioning our Micromachining product line for future success."

Bookings in the third quarter were $44.1 million, compared to $28 million in the prior quarter and $52.6 million last year.

“The demand environment improved late in the third quarter, specifically with the return of the flex via drilling market from a two-quarter slump," Burger said. "Interconnect bookings were broad based, more than doubled sequentially, and were higher than a year ago. Also, our Component Test group delivered its highest quarterly bookings in more than three years.”

ESI guided for fiscal fourth quarter revenues between $40 million and $45 million.

"I am encouraged by our orders performance this quarter," said Burger. "We expect to again see strong seasonal demand for our industry-leading flex products. We also made some progress toward early qualification and customer penetration with our new products, but there is more work to do. As we look forward we are focused on improving execution, accelerating new product adoption, and increasing consistency of earnings over time."

• Prev
• Next