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ESI Q4 Sales Slide 29%

Published: 13 May 2009
 by Staff
PORTLAND, OR – Electro Scientific Industries (ESI) reported fourth-quarter sales fell 29% from last quarter to $18.1 million. For the year, sales dropped 36% to $157.3 million.

GAAP net loss for the quarter was $14.9 million compared to $29.3 million in the third quarter. Fourth-quarter net loss included a charge of $9 million associated with restructuring, write-offs, impairment and expenses related to the Zygo transaction.
 
For the year, GAAP net loss was $51 million, compared to a net income of $16.6 million last year.
 
Quarter-on-quarter, non-GAAP net loss increased from $5.8 million to $7.1 million. Fourth-quarter orders fell to $16.1 million compared to $21.2 million last quarter.
 
Non-GAAP net loss was $9.1 million compared to $23.5 million in 2008.
 
At the end of the fourth quarter, ESI announced that it had agreed with Zygo Corp. to end their merger agreement. ESI received $5.4 million in break up fees.
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