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Last $5.61 USD
Change Today -0.02 / -0.36%
Volume 58.3K
ESIO On Other Exchanges
As of 8:10 PM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

electro scientific inds inc (ESIO) Snapshot

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52 Week High
05/7/14 - $8.41
52 Week Low
05/6/15 - $5.52
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electro scientific inds inc (ESIO) Details

Electro Scientific Industries, Inc. provides laser-based manufacturing solutions for the microtechnology industry worldwide. Its laser systems enable precise structuring of micron to submicron features in components and on devices used in consumer electronic, computer, semiconductor, communication, and other markets. The company offers interconnect and microfabrication, such as laser via micro fabrication systems for electrical interconnect applications between layers in circuits, high-density circuit boards, and IC packages; micro via drilling technology that addresses the changing applications in IC packages, multichip modules, and HDI circuit boards; and ultraviolet laser processing systems comprising single-beam and multi-beam systems. Its interconnect and microfabrication products also include laser ablation systems that ablate material for identification and analysis applications; and various platforms, which enable customers to perform precision drilling, scribing, cutting, etching, routing, or marking different types of materials and devices. In addition, the company provides wafer marking equipment used for serialization and wafer identification by manufacturers of semiconductor wafers and within semiconductor fabs; wafer and circuit trim tools; and laser liquid crystal display repair systems. Further, it designs and manufactures products that combine high-speed small parts handling technology with real-time control systems to provide solutions for manufacturers of MLCCs and other passive components, such as capacitor arrays, inductors, resistors, varistors, and hybrid circuits. Its laser microfabrication systems allow microelectronics, semiconductor, and microtechnology manufacturers to physically alter select device features during high-volume production. The company sells its products through direct sales and service offices, value-added resellers, and independent representatives. The company was founded in 1944 and is headquartered in Portland, Oregon.

633 Employees
Last Reported Date: 06/12/14
Founded in 1944

electro scientific inds inc (ESIO) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $60.5K
Chief Financial Officer, Vice President of Ad...
Total Annual Compensation: $338.3K
Vice President of Worldwide Operations
Total Annual Compensation: $277.2K
Chief Accounting Officer, Vice President of F...
Total Annual Compensation: $207.2K
Vice President of Customer Operations
Total Annual Compensation: $262.5K
Compensation as of Fiscal Year 2014.

electro scientific inds inc (ESIO) Key Developments

Electro Scientific Industries, Inc. Announces NWRimage System

Electro Scientific Industries Inc. announced the NWRimage system that gives researchers a powerful new tool for investigating elemental binding and transport within cells. The NWRimage system is the first elemental imaging-specific laser ablation instrument of its kind, offering breakthrough sub-micron spatial resolution and ultra-fast signal response for high throughput rates. Laser ablation (LA) systems such as NWRimage™ are used in conjunction with Inductively Coupled Plasma Mass Spectrometry (ICP-MS) systems to detect and analyze tiny amounts of material. As ICP-MS systems have become more sensitive, a need has emerged for LA imaging tools with <1 micron spatial resolution – a capability not previously available on the market. Instead, researchers have had to use general-purpose LA systems that fail to provide the correct beam characteristics or signal response and lack long-term reliability. To address these shortcomings, the NWRimage™ was designed from the ground-up specifically as an advanced elemental imaging solution. It uses a proprietary laser beam delivery system to yield sub-micron spatial resolution providing analysts with the tools they need to distinguish features at the sub-cellular level. It incorporates an ESI-manufactured Diode Pumped Solid State laser source for unmatched long-term stability and reliability over the course of millions of laser shots. In addition to its spatial resolution, the speed of the signal response is vitally important since it directly determines the available sample throughput or analysis time. The NWRimage™ is provided with a carefully designed aerosol path from point of ablation to injection into the ICP itself. This aerosol path combined with a novel Dual Concentric Injector (DCi) ICP torch, yields < 50ms signal response to accelerate the speed of analysis and enabling enhanced sample throughput. Initial NWRimage™ units have been delivered to BAM (Bundesanstalt für Materialforschung und –prüfung) in Berlin, Germany, one of the global research institutes in this field, where it will be used for bio imaging of single cells and medical tissue samples.

Electro Scientific Industries Inc. Amends Bylaws of the Company

On March 25, 2015, the Board of Directors of Electro Scientific Industries Inc. amended Section 2.1 of the company's 2009 Restated Bylaws to declassify the Board of Directors. Starting with the Company's 2015 annual meeting of shareholders, directors will be elected for one-year terms. Directors elected at the 2013 and 2014 annual meetings will not have their current terms shortened.

Electro Scientific Industries Enters into a New Loan Agreement

On March 20, 2015, Electro Scientific Industries entered into a new loan and security agreement (the loan agreement) between the company, as borrower, and silicon valley bank (SVB), as lender. The loan agreement provides for a senior secured asset-based revolving credit facility (the credit facility) with up to $30 million available on a revolving basis, including a $15 million sublimit for letters of credit, until march 20, 2018. Borrowings under the credit facility may be used for working capital needs and other general corporate purposes. The credit facility will have three levels of reporting, pricing, and availability based on the company’s liquidity and certain borrowing base valuations of the company’s eligible accounts receivable. Amounts outstanding under the credit facility will bear interest at a rate per annum equal to, at the election of the company, the LIBOR rate or wall street journal prime rate or, plus an additional interest rate margin that is determined by the availability of borrowings under the loan agreement. The additional interest rate margin will range from 2.0% to 2.75% in the case of LIBOR advances and from % to 0.5% for prime rate advances. During an event of default, amounts due under the loan agreement will bear interest at a rate per annum equal to 5% above the rate otherwise applicable to such amounts. The company is required to pay SVB a commitment fee of $75,000 upon execution of the loan agreement and $12,500 per annum thereafter, and is required to pay a quarterly unused facility fee equal to 0.30% - 0.50% per annum of the average daily unused portion of the commitments under the credit facility, depending upon availability of borrowings under the credit facility. The loan agreement contains customary representations and warranties, events of default, negative and affirmative covenants and financial covenants including maintaining a tangible net worth (consisting of consolidated assets less intangible and intellectual property, reserves, liabilities and subordinated debt) of $140 million, limiting annual capital expenditures to $10 million in the aggregate, and certain limitations on dispositions of assets.


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