Rudolph Technologies (RTEC) Tops Q2 EPS by 7c; Guides Q3 EPS Above the Street

Rudolph Technologies (NYSE: RTEC) reported Q2 EPS of $0.31, $0.07 better than the analyst estimate of $0.24. Revenue for the quarter came in at $62.7 million versus the consensus estimate of $60.27 million.

Michael Plisinski, chief executive officer, commented, “We delivered strong financial results for the second quarter across a number of key metrics including revenue, gross margin, and operating income; on a sequential basis, revenue increased 15 percent, gross margins expanded 110 basis points, our strong operating leverage resulted in a non-GAAP net income that substantially improved by 72 percent, and earnings per share grew by $0.13. In addition, the shipment of a tool for R&D of next generation AMOLED displays and fan out wafer level packaging contributed to a record quarter for our lithography business.”

Mr. Plisinski added, “Customer demand for Rudolph’s integrated solutions is solid. Looking ahead, we continue to benefit from a number of market drivers, with considerable strength in spending in the RF filters and fan out wafer level packaging markets, as evidenced by orders we have received that are scheduled to ship in the second half of the year. We recently introduced Clearfind™ technology for advanced packaging inspection, which our customers see as a critical technology to improve quality for their customers. This will be incorporated in our upcoming defect inspection systems for advanced packaging and front end applications, which we believe will drive incremental revenue in the second half of the year. By continuing to work in close partnership, we will leverage Rudolph’s broad technology portfolio to efficiently meet the highly technical challenges of our customers.”

GUIDANCE:

Rudolph Technologies sees Q3 2016 EPS of $0.27-$0.31, versus the consensus of $0.25. Rudolph Technologies sees Q3 2016 revenue of $59-63 million, versus the consensus of $61.3 million.

For earnings history and earnings-related data on Rudolph Technologies (RTEC) click here.

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