ESI Reports Record Fiscal 2000 Sales and Earnings

PORTLAND, Ore., July 12 -- Electro Scientific Industries Inc., designer and manufacturer of high-tech products used in electronics manufacturing, reported results for its fiscal year ended June 3. Sales and earnings totaled $317 million and $40.9 million respectively, or $1.49 per diluted share, compared to sales of $206 million and earnings of $10.4 million, or $0.39 per diluted share, for fiscal year 1999. These figures do not include merger related and non-recurring patent litigation trial expenses, the company said.
Sales for the final three months ended June 3 were $109 million, 33 percent more than this year's third quarter sales of $82 million. Fourth quarter earnings reached $17.2 million, or $0.61 per diluted share, a 42 percent growth over earnings of $11.9 million, or $0.43 per diluted share for this year's third quarter.
Our record performance for fiscal year 2000 reflects both growth in demand across the entire electronics industry and growth in our market share, said Donald R. VanLuvanee, CEO and president of Electro Scientific Industries. Miniature surface mount capacitor manufacturing systems continue to be ESI's strongest product area. Geographically, sales to Asia and Japan were again strong, accounting for 63 percent of total sales in Q4.