Rudolph Technologies (RTEC) Tops Q4 EPS by 2c, Revenues Beat; Offers Q1 EPS/Revenue Guidance Below Consensus

Rudolph Technologies (NYSE: RTEC) reported Q4 EPS of $0.29, $0.02 better than the analyst estimate of $0.27. Revenue for the quarter came in at $62.78 million versus the consensus estimate of $62.54 million.

• Revenue of $62.8 million grew 4 percent over both the 2018 third quarter and prior year period against industry headwinds.
• Orders received for 12 Dragonfly™ G2 systems for advanced packaging inspection and metrology just months after being introduced at SEMICON® Taiwan.
• Backlog of over $13 million for new NovusEdge™ wafer macro inspection systems after first systems shipped in the fourth quarter.
• Orders received for $15 million of process control systems from major memory manufacturer transitioning high-end, stacked DRAM products to advanced packaging using copper pillar interconnects.

Michael Plisinski, chief executive officer, commented, “The fourth quarter results are a combination of some very successful wins for Rudolph for our customers’ leading-edge products against a general decline in DRAM and NAND memory, softening smartphone demand, and uncertain macroeconomic conditions. The recent orders for our new Dragonfly G2 and NovusEdge systems provide clear return on investment results from our ongoing R&D spending. The Rudolph team continues to build out the foundation for long term sustainable growth. By focusing on customer’s high value problems and leveraging our broad portfolio of technology we are playing an important role in enabling the next generation of 3D and 2.5D chip packaging.

He continued, “We ended the year with another record for revenue. More importantly, we continue to invest in the expansion of our addressable markets where we see the opportunity to apply our ability to provide solutions to a growing set of customers and markets ranging across bare wafer inspection, front-end metrology, back-end lithography, 2D/3D inspection and metrology, and high definition displays. While we cannot control the overall market conditions in 2019, we will continue our commitment to developing the tools our customers need to improve the yields and reliability of their future products.”

GUIDANCE:

Rudolph Technologies sees Q1 2019 EPS of $0.19-$0.25, versus the consensus of $0.32. Rudolph Technologies sees Q1 2019 revenue of $56-63 million, versus the consensus of $66.14 million.

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

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