The 10-second takeaway
For the quarter ended June 29 (Q2), Ultratech missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Ultratech chalked up revenue of $42.9 million. The six analysts polled by S&P Capital IQ anticipated revenue of $44.9 million on the same basis. GAAP reported sales were 27% lower than the prior-year quarter's $59.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.03. The five earnings estimates compiled by S&P Capital IQ averaged $0.04 per share. GAAP EPS of $0.03 for Q2 were 93% lower than the prior-year quarter's $0.41 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 47.3%, 690 basis points worse than the prior-year quarter. Operating margin was 2.6%, much worse than the prior-year quarter. Net margin was 2.0%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $42.7 million. On the bottom line, the average EPS estimate is $0.04.
Next year's average estimate for revenue is $190.3 million. The average EPS estimate is $0.60.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 123 members out of 240 rating the stock outperform, and 117 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Ultratech a green thumbs-up, and 35 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ultratech is outperform, with an average price target of $41.71.
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