Key Developments For Rubicon Technology, Inc.
Rubicon Technology, Inc. (RBCN.O) (Consolidated Issue listed on NASDAQ Global Market)
Rubicon Technology, Inc. Issues Q4 2009 Guidance In Line With Analysts' Estimates; Outlines Two Year Expansion Plan
Rubicon Technology, Inc. announced that for the fourth quarter of 2009, it expects revenue will further improve to approximately $7.0 million and expects pricing to begin to increase in the fourth quarter and also expect to see an increase in the percentage of revenue from large diameter substrates. Based on the expected pricing and mix, gross margin should turn positive with a reduction in diluted loss per share to approximately $0.05. According to Reuters Estimates, analysts are expecting the Company to report EPS of $(0.04) on revenues of $6.8 million for the same period. The Company also provided commentary on their expansion plans, which includes adding an additional crystal growth facility in the U.S. and building a low cost post crystal growth processing facility in Asia. The Company is currently working to finalize its plans, but it would be expected that both new facilities would be open within 12 months and be fully operational, meaning all equipment installed and operational, within 24 months.
Rubicon Technology, Inc. Comments On Q2 2009 Outlook
Rubicon Technology, Inc. announced that for second quarter of 2009, it expects results to be in line with the first quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $3 million and earnings per share (EPS) of $(0.12) for the same period.
Rubicon Technology, Inc. Issues Q1 2009 Guidance Below Analysts' Estimates
Rubicon Technology, Inc. announced that for first quarter of 2009, it expects revenue to be in the range of $2-$3 million and net loss to be in the range of $3-$4 million. According to Reuters Estimates, analysts were expecting the Company to report revenues of $5 million and net loss of $1.31 million for the same period.
Rubicon Technology, Inc. Announces Stock Repurchase Program
Rubicon Technology, Inc. announced that the Company's Board of Directors has authorized a stock repurchase program to purchase up to $15,000,000 of common stock over a period of two years. The stock repurchase program authorizes the Company to repurchase shares of its common stock in the open market at times and prices considered appropriate by the Company depending upon prevailing market conditions and other corporate considerations.
Rubicon Technology, Inc. Issues Q4 2008 Guidance Slightly Below Analysts' Estimates
Rubicon Technology, Inc. announced that for fourth quarter of 2008, it expects revenues to be between $4.0-$6.0 million, which would result in approximately a $1.0-$2.0 million net loss. According to Reuters Estimates, analysts were expecting the Company to report revenues of $6.2 million and net profit of $(0.86) million for the same period.
