FEI Q2 Results Top Estimates; Outlook Weak

(RTTNews) - FEI Co. (FEIC) reported net income for the second quarter of $24.9 million or $0.59 per share, compared to $30.0 million or $0.72 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $29.7 million or $0.70 per share, compared with $30.3 million or $0.72 per share in the prior year quarter.

Revenue for the second quarter grew 6.5% to $237.0 million from $222.5 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.65 per share on revenue of $235.22 million for the second quarter.

For the third quarter, the company forecasts revenue of $228.0 million to $243.0 million, earnings of $0.35 to $0.45 per share and adjusted earnings of $0.60 to $0.70 per share. Analyst currently expect the company to earn $0.90 per share on revenue of $255.36 million for the third quarter.

Revenue for the full year is now expected to be 5% to 7% greater than 2013, compared to its prior guidance of a 8% to 10% growth.