Needham & Company maintains a 'Buy' on FSI International (FSII); While Guidance Was Disappointing, Risk/Reward Appears Favorable After the Meaningful Pullback

Needham & Company maintains a 'Buy' on FSI International (NASDAQ: FSII), PT lowered by $1 to $4.50.

Needham analyst says, "On June 21st, FSII reported slightly better than expected F3Q11 (May) earnings, but provided weaker revenue and net income guidance due to delays in several customers’ production ramp. While the outlook is disappointing, we continue to believe new ORION and ANTARES wins will drive revenue growth, offsetting slowdown of its core product sales and enabling FSII to outperform peers over the next few quarters. With the substantial pulled back of stock price after the weak report, we believe risk/reward is favorable...Based on a weaker outlook, we cut our FY12 revenue/EPS from $132MM/$0.51 to $115MM/$0.36."

For more ratings news on FSI International click here and for the rating history of FSI International click here.

Shares of FSI International closed at $2.93 yesterday.

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