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For Electro Scientific, Tech Wreck Proved Just Another Hurdle; Been Challenging Four Years; Chip test products maker back in black after lawsuits, accounting probe, illness.(INTERNET & TECHNOLOGY)
Byline: JAMES DETAR
Electro Scientific Industries survived the tech wreck -- and a lot more.
The maker of lasers and other gear used to test chips had to deal with the worst tech industry slump ever in 2000-02. It also faced a serious illness to its CEO, an accounting probe and shareholder lawsuits.
ESI appears to have weathered the storms. Last quarter it returned to the black after two years in the red, and analysts foresee rising earnings for the next five quarters.
"In the markets they serve, they are basically the de facto standard," said Risto Puhakka, an analyst with VLSI Research. "For example, in laser repair they have 50% to 60% of sales."
Puhakka likes the track record of ESI's new chief executive. (See related Q&A, this page.) Nicholas Konidaris in January became the company's fifth CEO, or acting CEO, in less than two years. He had been head of chip gear maker Advantest America.
"He did a good job at Advantest," Puhakka said. "This is an extremely cyclical industry. You have to have been doing it for a while to be competent."
- ESI Appoints Nick Konidaris as President and Chief Executive Officer.
- Press release article from: Business Wire January 7, 2004 700+ words
...of president and chief executive officer. He will become a member of ESI's Board of Directors...succeed president and chief executive officer Barry Harmon...was president and chief executive officer of Advantest...choice to lead ESI. He brings extensive...
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- News wire article from: Marketwire Canada November 5, 2009 700+ words
...This acquisition give ESI access to a highly qualified...Rokos, President and Chief Executive Officer of ESI Technologies: "The...Brochu, President and Chief Executive Officer of GRAB Technologies. "ESI and GRAB Technologies...
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- Press release article from: Business Wire January 25, 2005 700+ words
...to share its good fortune by launching the ESI Sri Lanka Relief Fund, in response to the...medical relief organization. Eric Suder, ESI's founder and chief executive officer, said, "ESI is a very generous company. We support mentoring...
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- Press release article from: Business Wire March 13, 2001 700+ words
...still utilize older technology. ESI's phone systems, billed under...compete in many of the same markets, ESI Chief Executive Officer Eric Suder said, "This...And, we are constantly improving ESI's product line to stay a step ahead...
- ESI files reorganization plan.(Easy Systems Inc.)(Brief Article)
- Magazine article from: Feedstuffs HOWIE, MICHAEL August 13, 2001 700+ words
...debts with cash and trading new ESI stock for a majority of other debts...combination of cash and stock. ESI said since it filed for reorganization...Gaalswyk, the former founder and chief executive officer of ESI, was awarded the automation business...
- ESI Reseller AMERICAN SYSTEMS Awarded $20 Million Contract for Department of...
- Press release article from: Business Wire October 13, 2009 700+ words
...center agencies nationwide. ESI's powerful Communications...administrative efficiency. "ESI has a long history of creating...William C. Hoover, President and Chief Executive Officer of AMERICAN SYSTEMS...unique applications offered by ESI's feature-rich Communications...
- ESI and MediSend/International Ship Medical Supplies to Sri Lanka; Long-Term...
- Press release article from: Business Wire October 12, 2005 700+ words
...26, 2004. Shortly after the catastrophe, ESI established a direct support link with MediSend...p.m. on October 14, 2005. Eric Suder, ESI's Founder/Chief Executive Officer, said, "ESI began our program with a well-established...