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ESI's Q1 Up Sequentially

Published: 24 July 2009
 by Staff
PORTLAND, OR – Electro Scientific Industries Inc. (ESI) reported first-quarter sales climbed 25% sequentially to $22.6 million, compared to $18.1 million last quarter.
 
For the quarter ended June 27, net loss was $5.5 million, compared to a net loss of $14.9 million last quarter. Non-GAAP net loss, excluding items, was $6.2 million, compared to $7.1 million last year.

Orders climbed 79% for the quarter to $28.7 million, and ESI reports improvements in all business divisions. Operating expenses, on a non-GAAP basis, dropped for the fifth consecutive quarter.
 
Despite the increases, the company remains cautiously optimistic. It forecast second-quarter revenues between $25 million and $30 million.
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