Rudolph Technologies, Inc. (RTEC) Misses Q1 EPS by 1c

Rudolph Technologies, Inc. (NASDAQ: RTEC) reported Q1 EPS of $0.03, $0.01 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $41.6 million versus the consensus estimate of $44.71 million.

Paul F. McLaughlin, Chairman and Chief Executive Officer, commented, “Our business for the first quarter was evenly balanced, with front-end customers comprising 53 percent of revenue and 47 percent from back-end customers. During the quarter, we shipped a JetStep system for advanced packaging applications to a customer presently using Rudolph’s lithography systems in volume production, who foresees expanding capacity needs that will require two different varieties of Rudolph’s JetStep Advanced Packaging Lithography Systems. We also shipped our first NSX® 320 TSV Metrology System for through silicon via process development. This new NSX 320 System includes specialized sensors to measure critical parameters in 3D integration. In addition, our software unit at 14 percent of our revenue made very strong contributions to our results, as our industry leading fab-wide yield management systems analyze data from disparate sources and multiple sites to maximize fab-wide productivity.

“Looking ahead, we remain very confident that Rudolph will have a stronger second half led by back-end advanced packaging and lithography business, resulting in double digit growth in 2014, including a 20% contribution by our Lithography Systems Group, despite well-documented headwinds recently forecast for front-end wafer fab equipment markets.”

Mr. McLaughlin concluded, “Our position as a total value-added solutions provider has further strengthened in the first quarter, resulting in a rich and substantially stronger technology portfolio that has more than doubled in product offerings over the last five years. Our mission is to establish Rudolph as the vendor-of-choice for Advanced Packaging inspection, metrology, software and photolithography solutions while preserving our leadership positions in front-end node-dependent solutions. Our unique business model targets selected front-end and back-end higher growth markets, and provides us a broad and expanding customer base with a more balanced product portfolio across all industry cycles. We continue to see back-end customers using front-end technology to meet their advanced packaging requirements; and we believe we are in a leadership position to capture above industry average growth from this emerging dynamic. We have conviction that our chosen markets will benefit from both cyclical and sector growth, comprised of strong demand for our expanding package of leading-edge solutions.”

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

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