Net Revenue of $35.5 million; Net Income of $0.30 per Diluted Common Share
BUFFALO GROVE, Ill., July 29 /PRNewswire-FirstCall/ -- Eagle Test Systems,
Inc. (Nasdaq: EGLT), a provider of automated test equipment solutions for
high-performance analog, mixed-signal and radio frequency (RF) semiconductors,
announced financial results for its third fiscal quarter ended June 30, 2008.
Operating Results
Net revenue was $35.5 million for the third fiscal quarter ended June 30,
2008, an increase of $15.6 million, or 78.6%, compared to net revenue of
$19.9 million for the same period in the prior fiscal year. Sequentially, net
revenue increased $2.3 million or 7.0%. Gross margin for the third fiscal
quarter was 65.6% of net revenue, compared to 62.3% of net revenue for the
same period in the prior fiscal year, and 62.0% for the March 2008 quarter.
Operating income for the third fiscal quarter was $10.0 million, compared to
$1.8 million in operating income for the same period in the prior fiscal year,
and $8.0 million for the March 2008 quarter.
Net income for the third fiscal quarter was $6.8 million or $0.30 per
fully diluted common share, compared to net income of $2.0 million or $0.09
per fully diluted common share for the same period in the prior fiscal year,
and net income of $6.0 million or $0.26 per fully diluted common share for the
March 2008 quarter.
Net revenue was $99.6 million for the nine months ended June 30, 2008,
compared to net revenue of $65.2 million for the same period in the prior
fiscal year. Net income was $18.1 million, an increase of $10.4 million over
net income of $7.7 million in the comparable period in the prior fiscal year.
The Company reported income per fully diluted common share of $0.79 for the
nine months ended June 30, 2008, compared to $0.33 for the same period in the
prior fiscal year.
'I am very pleased to see the continued strength in the market segments
we serve,' stated Len Foxman - Eagle CEO. 'This quarter's results demonstrate
the power of Eagle's operating model and the success we are capable of
achieving as we continue to remain focused on profitable growth.'
Outlook
The Company estimates net revenue will be between $31.0 and $35.0 million
in the fourth fiscal quarter ending September 30, 2008. The Company estimates
earnings per share will be between $0.19 and $0.26 based on an estimated
23,200,000 fully diluted common shares.
Earnings Conference Call
Eagle Test Systems will host its earnings call today at 6:00 p.m. Eastern
Time/ 5:00 p.m.
