Rudolph Technologies, Inc (RTEC) has reported a 29.01 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $9.29 million, or $0.30 a share in the quarter, compared with $7.20 million, or $0.22 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $9.14 million, or $0.29 a share compared with $8.37 million or $0.26 a share, a year ago. Revenue during the quarter grew 5.19 percent to $61.64 million from $58.60 million in the previous year period. Gross margin for the quarter contracted 182 basis points over the previous year period to 52.64 percent. Total expenses were 79.49 percent of quarterly revenues, down from 79.53 percent for the same period last year. This has led to an improvement of 4 basis points in operating margin to 20.51 percent.
Operating income for the quarter was $12.64 million, compared with $11.99 million in the previous year period.
However, the adjusted operating income for the quarter stood at $13.30 million compared to $13.96 million in the prior year period. At the same time, adjusted operating margin contracted 224 basis points in the quarter to 21.58 percent from 23.82 percent in the last year period.
Michael Plisinski, chief executive officer, commented, "Customer demand for Rudolph’s integrated solutions continues to be strong, and we are expanding our applications in a number of our served markets. Our quarterly revenue growth was fueled by stronger memory and logic sales of our metal metrology MetaPULSE® G product line and advanced packaging. Within advanced packaging, fan-out packaging continues to drive our business. Our advanced packaging sales through the first nine months of 2016 have already exceeded our total sales for 2015; and with industry forecasts of ten percent growth in 2017 we believe we are uniquely positioned to capitalize on that growth."
For the fourth-quarter 2016, Rudolph Technologies, Inc projects revenue to be in the range of $52 million to $56 million. The company forecasts diluted earnings per share to be in the range of $0.11 to $0.15. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.18 to $0.22.
Working capital increases
Rudolph Technologies, Inc has recorded an increase in the working capital over the last year. It stood at $226.29 million as at Sep. 30, 2016, up 12.61 percent or $25.34 million from $200.94 million on Sep. 30, 2015. Current ratio was at 5.67 as on Sep. 30, 2016, up from 2.89 on Sep. 30, 2015. Days sales outstanding went up to 102 days for the quarter compared with 96 days for the same period last year.
Days inventory outstanding has decreased to 108 days for the quarter compared with 245 days for the previous year period.
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