Sliver of light XVII: ESI revenues up
Revenues in the first quarter increased 25% to $22.6 million from the fourth quarter of fiscal 2009.
PORTLAND, OR - Electro Scientific Industries Inc. , a leading provider of laser microengineering systems, today announced results for its fiscal 2010 first quarter, ended June 27, 2009. Revenues in the first quarter increased 25% to $22.6 million from the fourth quarter of fiscal 2009. Orders in the first quarter were up 79% to $28.7 million, with improvement seen in all business divisions. "Order activity exceeded our expectations, with virtually all our end markets showing some signs of improvement," noted Nick Konidaris, ESI president and CEO.
Looking forward, the company is encouraged by the recent increased activity in their markets. Konidaris said, "Although we are cautiously optimistic that business conditions are improving, the timing and trajectory of recovery remain uncertain. We will continue to partner with our customers to ensure we are ready to meet their needs as they resume capital spending. At the same time, we will manage our expenses carefully in order to generate profit leverage as our top line grows."