Jim Cramer Blog

Electro Scientific Industries Inc. (NASDAQ:ESIO - News) reported first-quarter net profit of $6.8 million, or 23 cents a share, compared with $1.34 million, or 5 cents a share, in the same period last year, boosted by strong sales and a $1.3 million insurance recovery that reduced expenses. The Portland, Ore.-based provider of manufacturing systems to the electronics market said this year's results include $600,000 in stock-based compensation expense. Analysts polled by Thomson First Call had expected per-share earnings of 19 cents. Revenue rose 35% to $60.2 million from $44.5 million. Analysts had forecast revenue of $59 million. The company expects second-quarter shipments of $55 million to $60 million, with revenue of $50 million to $65 million. Electro Scientific sees a gross margin percentage of 45% for the same period.
Source: Marketwatch