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.
Is Ultratech your best play in technology? Computers, mobile devices, and related services are creating huge amounts of valuable data, but only for companies that can crunch the numbers and make sense of it. Meet the leader in this field in "The Only Stock You Need To Profit From the NEW Technology Revolution." Click here for instant access to this free report.
- Add Ultratech to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.