SAN JOSE, Calif. - Electro Scientific Industries Inc. (ESI) has acquired the assets of PyroPhotonics Lasers Inc., a manufacturer of tailored-pulse fiber lasers based in Montreal, Canada.
''We are enthusiastic about tailored-pulse technology and its capability. Tailored-pulse technology has provided significant differentiated value in our market-leading DRAM repair tools. In addition, PyroPhotonics will allow us to enter and strengthen our position across multiple markets and applications, including solar,” Nick Konidaris, president and CEO of ESI (Portand), in a statement.
ESI also announced results for its fiscal 2011 second quarter ended Oct. 2, 2010. Revenue in the second quarter was $59.6 million, compared to $58.5 million in the first quarter of 2011 and $27.6 million in the same quarter one year ago.
On a GAAP basis, net loss was $0.6 million or $0.02 per share, compared to net income of $0.2 million or $0.01 per diluted share in the prior quarter. On a non-GAAP basis, excluding the impact of purchase accounting, equity compensation and non-recurring items, second quarter net income was $2.9 million or $0.10 per diluted share, compared to net income of $0.8 million or $0.03 per diluted share in the first quarter.
Based on current business conditions, ESI expects revenues for the third quarter of fiscal 2011 in the mid-$60 million range. ESI expects the acquisition of PyroPhotonics will negatively impact earnings by two to three cents per share. As a result, non-GAAP earnings per share are expected to be $0.10 to $0.15 excluding the impact of purchase accounting, equity compensation and non-recurring items.
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