ESI Reports Strong Preliminary Third Quarter 2018 Financial Results

Electro Scientific Industries, Inc. Jan 18, 2018

PORTLAND, Ore., Jan. 17, 2018 - Electro Scientific Industries, Inc. (Nasdaq:ESIO), an innovator in laser-based manufacturing solutions for the micro-machining industry, today reported preliminary financial results for the fiscal 2018 third quarter ended December 30, 2017. For the third quarter ESI expects to report revenue of between $106 and $111 million, and adjusted earnings per diluted share that exceeds the guided range provided on November 1. The company also expects to report third quarter bookings of approximately $134 million, up from $44.1 million in the third quarter of 2017. The company anticipates reporting its full third quarter financial results on January 31.

“I’m pleased the market conditions we experienced in the summer of 2017 continued into the December quarter, enabling us to deliver another exceptional quarter with both our top and bottom line results projected to exceed expectations,” stated Michael Burger, President and CEO of ESI. “Our strong results continue to be driven primarily by capacity expansion in the flexible circuit market which generated strong demand for our industry-leading laser drilling products.”

Burger concluded, “Given the strong third quarter demand, our currently elevated backlog position and our visibility into the current buy cycle, we now expect fourth quarter 2018 and first quarter 2019 revenues to approximate the same level as the third quarter.”

ESI management, including CEO Michael Burger, will discuss ESI’s strategy and outlook, including these preliminary results, on Thursday, January 18, at the Needham Growth Conference in New York City.

About ESI, Inc.

ESI enables our customers to commercialize technology using precision laser processes. ESI’s solutions produce the industry’s highest quality and throughput, and target the lowest total cost of ownership. ESI is headquartered in Portland, Oregon, with global operations and subsidiaries in Asia, Europe and North America. More information is available at www.esi.com.