Electro Scientific Industries easily topped analysts' estimates in its first quarter Monday, earning $23.3 million, or 83 cents a share, on sales of $129 million.
First Call Corp. consensus expected it to earn 66 cents a share in the quarter.
Electro Scientific (Nasdaq: ESIO) shares closed up 5/16 to 34 13/16 ahead of the earnings report.
In the year-ago quarter, Electro Scientific earned $4.7 million, or 18 cents a share, on sales of $58.9 million.
"This record performance demonstrates the broad based strength we are seeing in our business," said CEO Donald VanLuvanee in a prepared release. ``The continued growth in sales of our electronic component systems products is evidence of success in penetrating the in-house, captive market segment."
Electro Scientific makes equipment used to build wireless communications and computer parts.
Last quarter, it pocketed $17.2 million, or 61 cents a share, on sales of $109 million.
The stock moved as high as 69 1/8 in March after falling to a 52-week low of 22 1/2 in October.
Nine of the 10 analysts following the stock rate it either a "buy" or "strong buy."
First Call Corp. consensus expects it to earn $2.76 a share in the fiscal year.