FEI Co. (FEIC) shares get boost on Q2 earnings

FEI Co. (Nasdaq: FEIC) shares gained 8.9% to $34.59 Wednesday, a day after the high-precision microscope maker projected second-quarter results that topped Wall Street’s forecasts. Volume for the stock was 1.1 million shares shortly before Wednesday’s closing bell, compared to a daily average of 352,000.

The company, based in Hillsboro, Oregon, reported the highest quarterly revenue and earnings in the company’s history. Revenue of $197 million was up 32% compared to $149.1 million in the first quarter of 2010 and up 6% from $186.1 million in the fourth quarter of 2010.

Net income was $22.3 million or $0.54 per diluted share, compared with $4.1 million or $0.11 per diluted share in the first quarter of 2010 and $21.3 million or $0.52 per diluted share in the fourth quarter of 2010.

FEI’s Chief Executive Officer, Don Kania, commented, “Gross margins moderated from the fourth quarter as expected, as operating margins increased. Bookings remained strong with 31% year-over-year growth in both Life Sciences and Research and Industry, and 14% growth in Electronics. For the second quarter, we expect revenue to be strong with improved gross margins, and we continue to expect growth for 2011.”

FEI is a leading diversified scientific instruments company. It is a premier provider of electron and ion-beam microscopes and tools for nanoscale applications globally and across many industries: industrial and academic materials research, life sciences, semiconductors, data storage, natural resources and more.

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This entry was posted on Wednesday, May 4th, 2011 at 3:24 pm by Glenn and is filed under Technology Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.