Hi folks. Here's a closer look at a stock making it on the most active list--for the first time. It's ESIO. So what does the company do? Basically, Electro Scientific Industries, Inc. is an electronic manufacturing and equipment testing maker. Its sector is technology and its industry is diversified electronics. It's based out of Portland, Oregon and was founded in 1944.
FYI-here's a longer version (and very detailed) if you care to read: together with its subsidiaries, ESIO provides manufacturing systems to the electronics market worldwide. It supplies laser micro engineering systems that enable electronics manufacturers to physically alter select device features during the production of semiconductor devices, passive electronic components and circuitry, flex circuits, high-density interconnect circuit boards, and advanced semiconductor packaging. The company also produces test and termination equipment used in the production of multilayer ceramic capacitors and other passive components; and passive component inspection systems, which include multilayer ceramic test systems, termination systems, visual inspection systems, circuit fine-tuning systems, and consumable products, such as carrier plates and termination belts.
Okay, back to basics. Why is ESIO on the most active? We can't say for sure but here's what some research has pulled up. Take a look at this news piece from Yahoo Finance Tuesday on ESIO: "Elsewhere on the losing side, Electro Scientific Industries Inc. slid after its fiscal third-quarter profit fell despite higher sales. ESIO's year-ago results were boosted by a tax benefit and lower expenses. Operating expenses climbed as well, while research costs rose. Shares gave up 74 cents, or 3.7 percent, to $19.35 in late trading, after rising 65 cents, or 3.3 percent, to end at $20.09 on the Nasdaq."
Or this, Tuesday, from Briefing.com: "Electro Scientific reports Q3 results below consensus Reports Q3 (Feb) earnings of $0.19 per share, $0.01 worse than the Reuters Estimates consensus of $0.20; revenues rose 6.2% year/year to $59.4 mln vs the $61.3 mln consensus."
On that news, or rather despite the news and falling stock price Tuesday, we find the stock price moving up--nearly 3% at this point in the day (Wednesday). There has been impatience by stock holders (see the second related link above). But does that explain it? No. This one you may have to figure out on your own.
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