Onto Innovation Q1 2020 Earnings Report
Key Takeaways
Onto Innovation reported first quarter revenue of $139.9 million, representing a 16% sequential increase. The company's non-GAAP EPS was $0.39, at the high end of the guidance. The company also repurchased $34 million of its stock in the first quarter.
Revenue of $139.9 million, representing 16% sequential growth and at the upper end of guidance.
Advanced packaging process control solutions, primarily for 5G products, helped drive a 22% growth in macro inspection revenue.
Revenue from advanced nodes grew 29% over the fourth quarter in support of logic/foundry and DRAM expansions.
Quarterly GAAP diluted EPS of ($0.09); Non-GAAP diluted EPS of $0.39, at the high end of guidance and includes stock-based compensation expense.
Onto Innovation
Onto Innovation
Forward Guidance
The Company is currently anticipating revenue for the second quarter 2020 to be approximately $134 million, with an upside range of +3% and a downside range of -5% due to heightened concerns over COVID-19. Within this revenue range the Company is expecting GAAP net income per diluted share to be in the range of $0.04 to $0.16 and non-GAAP net income per diluted share to be in the range of $0.29 to $0.41.