FEI Co (FEIC) Reports In-Line Q3 EPS

FEI Co (NASDAQ: FEIC) reported Q3 EPS of $0.69, in-line with the analyst estimate of $0.69. Revenue for the quarter came in at $227.8 million versus the consensus estimate of $237.1 million.

FEI Co sees Q4 2014 EPS of $0.94-$1.08, versus the consensus of $1.08. FEI Co sees Q4 2014 revenue of $265-280 million, versus the consensus of $280 million.

"Earnings were at the high end of our guidance range and we are encouraged by our gross margin progress," commented Don Kania, president and CEO. "We exited the quarter with record backlog reflecting strong customer demand for our differentiated workflows across both Science and Industry. We continue to see increased interest from customers in key new adjacent markets of structural biology and near-line semiconductor. While foreign exchange movements negatively impacted our reported revenue and backlog, our future earnings stand to benefit from the stronger US dollar.

"Looking forward, we expect fourth quarter revenue to be up substantially over the third quarter, supported by the strong bookings activity over the past several quarters. Profitability is expected to improve in the fourth quarter and we believe we are on track to achieve our mid-2015 targets of 50% gross margin and 20% operating income."

For earnings history and earnings-related data on FEI Co (FEIC) click here.

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