Needham & Company maintains a 'Hold' on FSI International (FSII); Still Waiting for Those ORION Acceptances

Needham & Company maintains a 'Hold' on FSI International (NASDAQ: FSII).

Needham analyst says, "FSII reported F2Q11 (Feb) earnings upside on better margins; however, revenue guidance for the May quarter was slightly below the Street and is likely to disappoint investors. Bookings outlook is very strong, although back-end loaded, suggesting that FSII expects to turn some ORION programs into revenue and to see more orders in ANTARES. Given the delays of acceptance of its single-wafer ORION product at multiple customers, we prefer to wait for confirmation of product acceptance before turning aggressive on the name...We raise our FY11 EPS estimate to $0.33 on higher margins but maintain our FY12 EPS of $0.56 on
higher opex."

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 $3.59 yesterday.

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