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ESI sales fall again, but Washington County company says rebound under way [The Oregonian, Portland, Ore.](Oregonian (Portland, OR) Via Acquire Media NewsEdge) Oct. 30--Electro Scientific Industries, Oregon's oldest technology company, reported another steep drop in quarterly revenues on Thursday but forecast better results in the months ahead. The Washington County company makes laser tools and other production equipment for electronics manufacturers. ESI named a new chief executive in February and charged him with repositioning the company after its main market, equipment for memory chip companies, collapsed. "As we execute our plans to revitalize ESI we expect to begin seeing results over the next several quarters that will lead to top line growth and a return to profitability," new CEO Ed Grady said in a written statement. Sales in ESI's fiscal second quarter, which ended September 27, totaled $42.9 million. That's down 28 percent from the same period a year earlier. ESI lost $6.2 million, 20 cents a share, compared to a loss of $2.8 million, 9 cents a share, in the same three months last year. In the current quarter ESI forecast sales of $40 million, which would be a 4.5 percent increase from the third quarter a year ago. ESI shares fell 1 cent Thursday, closing at $7.13 before the company reported quarterly results. The stock has traded between $5.96 and $12.13 in the past year. -- Mike Rogoway; twitter: @rogoway; phone: 503-294-7699 ___ (c)2014 The Oregonian (Portland, Ore.) Visit The Oregonian (Portland, Ore.) at www.oregonian.com Distributed by MCT Information Services |