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Stock Market & Financial Investment News

News Breaks
December 11, 2012
09:00 EDTESIOElectro Scientific falls 1.6%
Electro Scientific is down 1.6%, or 16c, to $9.54
News For ESIO From The Last 14 Days
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February 23, 2015
09:05 EDTESIOElectro Scientific appoints Richard Wills as chairman to replace Jon Tompkins
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08:31 EDTESIOElectro Scientific not changing Q4 guidance as a result of dividend suspension
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08:30 EDTESIOElectro Scientific board suspends dividend to concentrate resources on growth
Electro Scientific Industries announced that its Board of Directors has suspended its quarterly dividend. “We are in the middle of a major turnaround at ESI to return to long-term growth, profitability, and cash generation,” stated Edward C. Grady, president and CEO of ESI. “Our revitalization effort involves leveraging our recent acquisition of Topwin, gaining high-volume adoption of new products, and expanding our sales channel. Our initiatives are on track, and we are seeing broader interest from our customers and additional opportunities to penetrate adjacent markets. These opportunities require us to deploy qualification units, ramp laser production, field demo equipment, and fund growth in receivables. While our balance sheet is solid our Board believes we should concentrate our financial strength on growing the company and maintaining adequate financial flexibility.”

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