Ultratech Earnings: Here’s Why Investors are Not Happy Now
Ultratech, Inc. (NASDAQ:UTEK) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.9%.
Ultratech, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 92.68% to $0.03 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Decreased 27.42% to $42.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ultratech, Inc. reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $44.56 million.
Quoting Management: Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “We believe the longer term prospects for our success remain firmly in place, as demonstrated by our recent announcements of the shipment of our first ambient control LSA201 to a leading IDM and the repeat advanced packaging order we received from a leading OSAT customer in Asia. With our leading technology position, premier customer base, and dedicated workforce around the globe, we believe we remain well-positioned to capture a leading share of our target markets in the future.”
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