Ultratech, Inc. (UTEK) Higher Despite Q2 Miss as CEO Points to 'Strong' 2nd Half

Ultratech, Inc. (NASDAQ: UTEK) is trading up 0.8% despite an earnings miss earlier. The company reported Q2 EPS of ($0.14), $0.05 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $38.6 million versus the consensus estimate of $39.6 million.

Upside comes as the company is expending a strong second half, citing a positive book-to-bill and increasing order activity.

Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, “With positive book-to-bill and increasing order activity, we are expecting a strong second half of the year, particularly the fourth quarter, when we expect to benefit from ramping FinFET production and advanced packaging. We believe we are well positioned to lead the industry as it makes the necessary transition to more advanced technologies such as our LSA tools and anticipate steady contributions from our other product lines including advanced packaging, wafer inspection, and high-brightness LEDs.”

For earnings history and earnings-related data on Ultratech, Inc. (UTEK) click here.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• EQT Corp. (EQT) Tops Q1 EPS by 17c; offers outlook
• Range Resources (RRC) Tops Q1 EPS by 11c; offers production guidance