ESI Announces First Quarter Fiscal 2018 Results
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Electro Scientific Industries, Inc. | |
Analysis of First Quarter Fiscal 2018 Results | | (Unaudited) | | | | | |
Fiscal quarter ended | | (Dollars and shares in thousands) | |
Jul 1, 2017 | |
Apr 1, 2017 | |
Jul 2, 2016 | |
Sales detail: | | | | | | | | Printed Circuit Board | | $ | 52,318 | | | $ | 28,339 | | | $ | 30,918 | | | Component Test | | 8,181 | | | 7,382 | | | 4,602 | | | Semiconductor | | 6,737 | | | 8,036 | | | 7,609 | | | Industrial Machining | | 5,448 | | | 6,161 | | | 4,539 | | |
Net Sales | | $ | 72,684 | | | $ | 49,918 | | | $ | 47,668 | | | | | | | | | | | As % of Net Sales | | | | | | | |
GAAP | | | | | | | | Gross profit | | 36.3 | % | | 36.5 | % | | 43.7 | % | | Selling, general and administrative expense | | 18 | % | | 28 | % | | 27 | % | | Research, development and engineering expense | | 12 | % | | 17 | % | | 16 | % | | Net operating expenses | | 32 | % | | 73 | % | | 43 | % | | Operating income (loss) | | 5 | % | | (36 | %) | | 1 | % | |
Non-GAAP | | | | | | | | Gross profit | | 46.7 | % | | 45.7 | % | | 46.7 | % | | Net operating expenses | | 28 | % | | 40 | % | | 40 | % | | Operating income (loss) | | 19 | % | | 5 | % | | 7 | % | | | | | | | | | | GAAP - Effective tax rate % | | 11.6 | % | | 0.3 | % | | 151.5 | % | |
Weighted average shares outstanding | | | | | | | | Basic | | 33,432 | | | 33,065 | | | 31,815 | | | Diluted GAAP | | 34,321 | | | 33,065 | | | 31,815 | | | Diluted Non-GAAP | | 34,321 | | | 33,822 | | | 32,530 | | | End of period employees | | 607 | | | 683 | | | 657 | | | | | | | | | | | | | | | | | | | | | | | |
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