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Electro Scientific Industries fiscal Q3 loss narrows YOY

Electro Scientific Industries Inc. said its normalized net income for the fiscal third quarter ended Jan. 2 came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss decreased 59.8% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with a loss of $3.7 million in the third quarter ended Dec. 27, 2014.

The normalized profit margin climbed to negative 3.5% from negative 8.5% in the year-earlier period.

Total revenue came to $43.3 million, compared with $43.7 million in the year-earlier period, and total operating expenses fell 7.6% from the prior-year period to $45.9 million from $49.7 million.

Reported net income totaled a loss of $4.7 million, or a loss of 15 cents per share, compared to a loss of $6.4 million, or a loss of 21 cents per share, in the third quarter ended Dec. 27, 2014.