ESIO » Topics » Net Sales

These excerpts taken from the ESIO 10-K filed Jun 10, 2009.

Net Sales

The following table presents net sales for the ten–month fiscal year ended March 29, 2008, the fiscal year ended June 2, 2007, and the pro forma ten months ended March 31, 2007:

 

     Ten months ended
March 29, 2008
    Fiscal 2007     Pro forma ten months ended
March 31, 2007 (Unaudited)
 

(In thousands, except percentages)

   Net Sales    Percent of
Total Net Sales
    Net Sales    Percent of
Total Net Sales
    Net Sales    Percent of
Total Net Sales
 

Semiconductor (SG)

   $ 109,156    44.2 %   $ 145,381    58.0 %   $ 97,706    53.0 %

Passive Components (PCG)

     75,112    30.4       63,093    25.2       52,365    28.4  

Interconnect/Micro-machining (IMG)

     62,887    25.4       42,350    16.8       34,362    18.6  
                                       
   $ 247,155    100.0 %   $ 250,824    100.0 %   $ 184,433    100.0 %
                                       

 

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Fiscal 2008 net sales were $247.2 million compared to $250.8 million in fiscal 2007. On a pro forma basis, net sales for the comparable ten-month period in fiscal 2007 were $184.4 million, which excluded the results of the latter two months of our reported fourth-quarter for fiscal 2007. Business activity was ramping up significantly over the course of the latter part of fiscal 2007 and continued strongly through most of fiscal 2008. As a result, on a pro forma basis, each product group reflected increases in net sales, rising approximately 12%, 43% and 83% for SG, PCG and IMG, respectively.

SG net sales in fiscal 2008 decreased $36.2 million or 25% compared to fiscal 2007. On a pro forma basis, SG net sales increased by approximately $11.5 million, primarily due to $10.4 million as a result of the acquisition of NWR. The remaining increase of $1.1 million resulted from an increase in the volume of sales of our dual-beam IR and UV-based Model 9850, large capacity increases from NAND flash producers and the migration to 70-nm technology. These increases were substantially offset by a decrease in the volume of sales of our existing single-beam IR-based memory link processing tools and overall weakness in the semiconductor memory market in the fourth quarter of fiscal 2008.

Fiscal 2008 PCG net sales increased $12.0 million or 19% compared to fiscal 2007. On a pro forma basis, PCG net sales increased by $22.7 million driven by strong demand for our Model 3500 series electrical test systems, which were newly introduced in 2008, our Model 6650 visual inspection systems and increased penetration in Asian markets.

IMG net sales were $62.9 million in fiscal 2008, an increase of $20.5 million or 48% compared to IMG sales in fiscal 2007. On a pro-forma basis, IMG net sales increased by $28.5 million, including $10.3 million in net sales resulting from the acquisition of NWR. The remaining $18.2 million increase was driven by an increase in sales volumes of our Model 5300 series UV laser micro-via drilling and micro-machining systems.

Net Sales

The following table presents net sales for the ten–month fiscal year ended March 29, 2008, the fiscal year ended June 2, 2007, and the pro forma ten months ended March 31, 2007:

 

     Ten months ended
March 29, 2008
    Fiscal 2007     Pro forma ten months ended
March 31, 2007 (Unaudited)
 

(In thousands, except percentages)

   Net Sales    Percent of
Total Net Sales
    Net Sales    Percent of
Total Net Sales
    Net Sales    Percent of
Total Net Sales
 

Semiconductor (SG)

   $ 109,156    44.2 %   $ 145,381    58.0 %   $ 97,706    53.0 %

Passive Components (PCG)

     75,112    30.4       63,093    25.2       52,365    28.4  

Interconnect/Micro-machining (IMG)

     62,887    25.4       42,350    16.8       34,362    18.6  
                                       
   $ 247,155    100.0 %   $ 250,824    100.0 %   $ 184,433    100.0 %
                                       

 

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Fiscal 2008 net sales were $247.2 million compared to $250.8 million in fiscal 2007. On a pro forma basis, net sales for the comparable ten-month period in fiscal 2007 were $184.4 million, which excluded the results of the latter two months of our reported fourth-quarter for fiscal 2007. Business activity was ramping up significantly over the course of the latter part of fiscal 2007 and continued strongly through most of fiscal 2008. As a result, on a pro forma basis, each product group reflected increases in net sales, rising approximately 12%, 43% and 83% for SG, PCG and IMG, respectively.

SG net sales in fiscal 2008 decreased $36.2 million or 25% compared to fiscal 2007. On a pro forma basis, SG net sales increased by approximately $11.5 million, primarily due to $10.4 million as a result of the acquisition of NWR. The remaining increase of $1.1 million resulted from an increase in the volume of sales of our dual-beam IR and UV-based Model 9850, large capacity increases from NAND flash producers and the migration to 70-nm technology. These increases were substantially offset by a decrease in the volume of sales of our existing single-beam IR-based memory link processing tools and overall weakness in the semiconductor memory market in the fourth quarter of fiscal 2008.

Fiscal 2008 PCG net sales increased $12.0 million or 19% compared to fiscal 2007. On a pro forma basis, PCG net sales increased by $22.7 million driven by strong demand for our Model 3500 series electrical test systems, which were newly introduced in 2008, our Model 6650 visual inspection systems and increased penetration in Asian markets.

IMG net sales were $62.9 million in fiscal 2008, an increase of $20.5 million or 48% compared to IMG sales in fiscal 2007. On a pro-forma basis, IMG net sales increased by $28.5 million, including $10.3 million in net sales resulting from the acquisition of NWR. The remaining $18.2 million increase was driven by an increase in sales volumes of our Model 5300 series UV laser micro-via drilling and micro-machining systems.

This excerpt taken from the ESIO 10-Q filed Feb 4, 2009.

Net Sales

Net sales were $25.6 million for the third quarter of 2009, a decrease of $51.7 million or 66.9% compared to net sales of $77.3 million for the third quarter of 2008. The overall decrease was primarily driven by significant decreases in SG and PCG net sales, and to a lesser extent, lower sales of IMG products.

Net sales by product group for the three months ended December 27, 2008 and December 29, 2007 were as follows:

 

      Three months ended  
      Dec. 27, 2008     Dec. 29, 2007  

(In thousands, except percentages)

   Net Sales    % of Net Sales     Net Sales    % of Net Sales  

Semiconductor (SG)

   $ 5,534    21.6 %   $ 39,691    51.3 %

Passive Components (PCG)

     4,557    17.8 %     18,767    24.3 %

Interconnect/Micro-machining (IMG)

     15,527    60.6 %     18,828    24.4 %
                          
   $ 25,618    100.0 %   $ 77,286    100.0 %
                          

SG sales in the third quarter of 2009 decreased $34.2 million or 86.1% compared to the third quarter of 2008. The overall decrease in sales was due to the significant downturn in the memory markets as well as reduced consumer demand, which is the primary driver of demand by our own customers.

PCG sales in the third quarter of 2009 declined $14.2 million or 75.7% compared to the third quarter of 2008. The decrease in PCG net sales was driven by low demand for capital equipment as customers utilize existing capacity to cover current needs during the weak global economy.

 

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IMG sales in the third quarter of 2009 decreased $3.3 million or 17.5% compared to the third quarter of 2008. The decrease was driven primarily by a slowing in demand for general purpose micromachining systems.

Net sales by geographic region for the three months ended December 27, 2008 and December 29, 2007 were as follows:

 

      Three months ended  
      Dec. 27, 2008     Dec. 29, 2007  

(In thousands, except percentages)

   Net Sales    % of Net Sales     Net Sales    % of Net Sales  

Asia

   $ 16,810    65.6 %   $ 54,614    70.7 %

Americas

     5,508    21.5 %     14,937    19.3 %

Europe

     3,300    12.9 %     7,735    10.0 %
                          
   $ 25,618    100.0 %   $ 77,286    100.0 %
                          

Compared to the three months ended December 29, 2007, net sales for the three months ended December 27, 2008 declined $37.8 million or 69.2% in Asia, $9.4 million or 63.1% in the Americas, and $4.4 million or 57.3% in Europe. These decreases reflect the weakening economic climate in all of our global markets.

This excerpt taken from the ESIO 10-Q filed Aug 5, 2008.

Net Sales

Net sales were $64.0 million for the quarter ended June 28, 2008, a decrease of $7.7 million or 10.8% compared to net sales of $71.7 million for the quarter ended June 2, 2007. The overall decrease was driven by a decrease in SG net sales, partially offset by a significant increase in IMG net sales.

Information regarding our net sales by product group is as follows:

 

     Fiscal quarter ended  
      June 28, 2008     June 2, 2007  

(Net Sales in thousands)

   Net Sales    % of Net Sales     Net Sales    % of Net Sales  

Semiconductor (SG)

   $ 21,728    33.9 %   $ 50,166    69.9 %

Passive components (PCG)

     13,275    20.7 %     12,784    17.8 %

Interconnect/Micro-machining (IMG)

     29,021    45.3 %     8,794    12.3 %
                          
     64,024    100.0 %   $ 71,744    100.0 %
                          

SG sales in the first quarter of fiscal 2009 decreased $28.4 million or 56.7% compared to the fourth quarter of fiscal 2007, including a $2.1 million increase resulting from the acquisition of NWR. The overall decrease in sales was primarily due to reductions in capital spending by customers who currently have excess capacity due to softening in the memory markets.

PCG sales were up slightly at $13.3 million compared to $12.8 million in the fourth quarter of fiscal 2007. The increase in PCG net sales was driven by capacity buys from key customers, though this trend was limited by the utilization of capacity by customers with systems delivered in prior periods.

 

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IMG sales were $29.0 million in the first quarter of fiscal 2009, an increase of $20.2 million, which was more than double the IMG sales of $8.8 million in the fourth quarter of fiscal 2007, inclusive of an increase of $4.1 million resulting from the acquisition of NWR. The remaining increase was driven primarily by increased demand for our expanded micro-machining product line combined with continued demand in the flex-circuit and integrated circuit packaging segments of this market.

Net sales by geographic region were as follows:

 

     Fiscal quarter ended  
     June 28, 2008     June 2, 2007  

(Net Sales in thousands)

   Net Sales    % of Net Sales     Net Sales    % of Net Sales  

Asia

   $ 44,439    69.4 %   $ 55,708    77.6 %

Americas

     12,903    20.2 %     8,295    11.6 %

Europe

     6,682    10.4 %     7,741    10.8 %
                          
   $ 64,024    100.0 %   $ 71,744    100.0 %
                          

Net sales to Asia in the first quarter of fiscal 2009 decreased $11.3 million compared to the fourth quarter of fiscal 2007, primarily driven by weakness in SG sales.

Net sales to the Americas in the first quarter of fiscal 2009 increased $4.6 million compared to the fourth quarter of fiscal 2007. This increase was driven by an increase in SG and IMG net sales.

This excerpt taken from the ESIO 10-Q filed Nov 7, 2007.

Net Sales

Net sales were $82.3 million for the quarter ended September 29, 2007, an increase of $21.9 million or 36% compared to net sales of $60.4 million for the quarter ended September 2, 2007. The overall increase was driven by increases in all three of our product groups, as well as the impact of NWR net sales totaling $5.2 million for the period after the acquisition on July 20, 2007.

Information regarding our net sales by product group is as follows (net sales in thousands):

 

     Three months ended  
     September 29, 2007     September 2, 2006  
     Net Sales    % of
Net Sales
    Net Sales    % of
Net Sales
 

Semiconductor (SG)

   $ 38,176    46.4 %   $ 31,884    52.8 %

Passive Components (PCG)

     23,791    28.9       18,661    30.9  

Interconnect/micro-machining (IMG)

     20,351    24.7       9,823    16.3  
                          
   $ 82,318    100.0 %   $ 60,368    100.0 %
                          

SG sales in the second quarter of fiscal 2008 increased $6.3 million or 20% compared to the first quarter of fiscal 2007, including an increase of $2.6 million resulting from the acquisition of NWR. The remaining net sales increase was primarily due to increased volume sales of our dual-beam UV-based Model 9850.

Second quarter PCG sales increased $5.1 million or 27% compared to sales in the first quarter of fiscal 2007. The rise in PCG net sales was driven by strong demand for our Model 3300 series electrical test systems, and increased penetration in the Asian market, as manufacturers seek to build production capacity for MLCC products. End-market demand for MLCC products has increased for wireless handsets, dual core microprocessors, flat panel displays and automotive electronics.

IMG sales were $20.4 million in the second quarter of fiscal 2008, an increase of $10.6 million or 108% compared to IMG sales of $9.8 million in the first quarter of fiscal 2007, including an increase of $2.6 million resulting from the acquisition of NWR. The remaining increase was led by sales volumes of our Model 5300 series UV laser micro-via drilling systems.

 

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Net sales by geographic region were as follows (net sales in thousands):

 

     Three months ended  
     September 29, 2007     September 2, 2006  
     Net Sales    % of
Net Sales
    Net Sales    % of
Net Sales
 

Asia

   $ 63,586    77.3 %   $ 43,653    72.3 %

Americas

     12,930    15.7       13,005    21.5  

Europe

     5,802    7.0       3,710    6.2  
                          
   $ 82,318    100.0 %   $ 60,368    100.0 %
                          

Compared to the first quarter of fiscal 2007, the percentage of net sales to Asia in the current quarter of fiscal 2008 increased by 5 percentage points. The net $19.9 million increase in net sales to Asia was driven primarily by increases in China and Korea resulting from volume increases in net sales of SG products, and increases in Japan due to higher net sales of PCG products. Partially offsetting these increases, the impact of NWR net sales by region reduced our percentage of total net sales to Asia by approximately 2 percentage points, compared to 79.5% percent of total net sales excluding NWR in the second quarter of fiscal 2008.

This excerpt taken from the ESIO 10-K filed Aug 15, 2007.

Net Sales

Net sales for fiscal 2006 decreased $26.4 million or 11.3% to $207.0 million compared to $233.4 million in fiscal 2005. The annual decrease reflected the industry environment at the beginning of fiscal 2006, in which we

 

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experienced softened demand for our products. Over the course of fiscal 2006, however, demand for our products increased. Shipments in the first half of fiscal 2006 were $93.4 million, compared to shipments in the latter half of fiscal 2006 of $113.6 million. As a result, total net sales increased sequentially each quarter in fiscal 2006, from $44.5 million in the first quarter to $57.9 million in the fourth quarter.

Net sales by product group were as follows (net sales in thousands):

 

     2006     2005  
     Net Sales   

Percent of

Total Net Sales

    Net Sales   

Percent of

Total Net Sales

 

Semiconductor (SG)

   $ 126,682    61.2 %   $ 138,574    59.4 %

Passive Components (PCG)

     46,305    22.4       61,001    26.1  

Electronic Interconnect (EIG)

     34,019    16.4       33,796    14.5  
                          
   $ 207,006    100.0 %   $ 233,371    100.0 %
                          

During fiscal 2006, net sales decreased in our SG and PCG product groups, while EIG remained stable compared to fiscal 2005. SG sales decreased $11.9 million or 8.6% from the prior fiscal year, as demand peaked for semiconductor products in the first half of fiscal 2005, and decreased thereafter consistent with the industry demand cycle. Net sales of SG products began to increase again in the latter half of fiscal 2006 and approached levels experienced in the first half of fiscal 2005 due primarily to increased unit sales of IR based systems as well as demand for our new UV based memory-link processing system.

PCG sales in fiscal 2006 decreased $14.7 million or 24.1% compared to the prior year. In the first quarter of fiscal 2005, PCG sales reached a four-quarter peak at approximately $21 million. Subsequently, PCG quarterly net sales decreased sequentially for the remainder of fiscal 2005 and somewhat stabilized over the first three quarters of fiscal 2006 in a range of $9 million to $12 million per quarter. In the fourth quarter of fiscal 2006, PCG net sales increased to $14 million due to a doubling in unit sales as compared to the first three quarters combined.

EIG sales remained stable at $34.0 million in fiscal 2006 compared to $33.8 million in fiscal 2005.

This excerpt taken from the ESIO 10-Q filed Sep 29, 2006.

Net Sales

Net sales were $60.2 million for the quarter ended September 2, 2006, an increase of $15.7 million or 35% compared to net sales of $44.5 million for the same quarter of the prior year. The overall increase was driven by increases in all three of our product groups.

Information regarding our net sales by product group is as follows (net sales in thousands):

 

     Three months ended  
     September 2, 2006     August 27, 2005  
     Net Sales    % of Net Sales     Net Sales    % of Net Sales  

Semiconductor (SG)

   $ 31,743    52.8 %   $ 27,901    62.7 %

Passive Components (PCG)

     18,632    31.0       11,049    24.8  

Electronic Interconnect (EIG)

     9,789    16.3       5,558    12.5  
                          
   $ 60,164    100.0 %   $ 44,508    100.0 %
                          

SG sales in the first quarter of fiscal 2007 increased $3.8 million or 14% compared to the same period in the prior fiscal year. The sales increase was primarily due to increased volume sales of our Model 2100 thin-film-on-silicon (TFOS) trimming system, which continues to gain market acceptance. Over the past fiscal year, multiple leading analog IC makers qualified the Model 2100 for production.

First quarter PCG sales increased $7.6 million or 69% compared to sales in the first quarter of fiscal 2006. The rise in PCG net sales was driven by strong demand for our Model 3300 series electrical test systems as manufacturers seek to build production capacity for MLCC products.

EIG sales were $9.8 million in the first quarter of fiscal 2007, an increase of $4.2 million or 76% compared to EIG sales of $5.6 million in the first quarter of fiscal 2006. The increase was led by sales volumes of our Model 5300 series UV laser micro-via drilling systems, which doubled in the current quarter compared to the same period of the prior year. Many of our flex-circuit manufacturing customers are adding marginal capacity and have selected us as the provider of choice for micro-via drilling solutions.

Net sales by geographic region were as follows (net sales in thousands):

 

     Three months ended  
     September 2, 2006     August 27, 2005  
     Net Sales    % of Net Sales     Net Sales    % of Net Sales  

Asia

   $ 43,450    72.2 %   $ 30,938    69.5 %

Americas

     13,004    21.6       9,550    21.5  

Europe

     3,710    6.2       4,020    9.0  
                          
   $ 60,164    100.0 %   $ 44,508    100.0 %
                          

Compared to the first quarter of fiscal 2006, the percentage of total net sales to Asia in the current quarter of fiscal 2007 increased modestly. The $12.5 million increase in sales to Asia was driven primarily by increases in China and Korea and resulted from the volume increases in net sales of PCG and EIG products.

 

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