UPDATE 1- Electro Scientific Industries sees strong Q1

Tue May 11, 2010 6:12pm EDT

* Q4 EPS $0.16 vs est $0.05

* Q4 rev more than triples

* Sees Q1 rev in lower to mid-$50 mln range

* Sees adj Q1 EPS $0.01-$0.06

* Shares up 3 pct

May 11 (Reuters) - Electro Scientific Industries Inc (ESIO.O) posted better-than-expected quarterly results mainly helped by strong demand at its interconnect micro-machining group and forecast first-quarter revenue above estimates.

The company sees first-quarter revenue in the lower to mid-$50 million range, compared with analysts' average estimates of $48 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter ended April 3, net income was $2.1 million, or 7 cents a share, compared with a loss of $2.4 million, or 9 cents a share a year ago.

Excluding items, the company earned 16 cents a share.

Revenue more than tripled to $59.6 million, while interconnect micro-machining revenue grew more than five times.

Two analysts on average had expected earnings of 5 cents a share, before special items, on revenue of $53 million.

Shares of the company rose 3 percent to $14.25 in trading after the bell. They closed at $13.81 Tuesday on Nasdaq. (Reporting by Divya Sharma in Bangalore; Editing by Don Sebastian)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.