Nlight Inc (NASDAQ: LASR) stock rose over 8.5% after the company in the first quarter of FY 18 has reported the adjusted earnings per share of 10 cents, which is as per the analysts’ estimates for the adjusted earnings per share of 10 cents. This is compared to an adjusted loss of 5 cents a share a year ago. NLight has earned $2.9 million, breaking even on a per-share basis, in the first quarter, versus a loss of $1.2 million. The company had reported the adjusted revenue growth of 8.2 percent to $42.5 million in the first quarter of FY 18, beating the analysts’ estimates for revenue of $42.1 million.
Moreover, in the first quarter of FY 18 has posted the gross margin of 34.7% compared to 30.0% for the first quarter of 2017. The income from operations grew 587.6% to $4.2 million, or 9.9% of revenues, compared to $0.6 million, or 2.0% of revenues, for the first quarter of 2017.
Further, LASR began 2018 on a strong note, and delivered record quarterly revenues, gross profit, and income from operations. The company saw activity accelerate across all end markets, led by growth in the industrial end market. The company’s first quarter results reflect growing customer adoption of the semiconductor and fiber laser technology and demonstrate the expanding global opportunity for high-power lasers
Meanwhile, LASR had closed its initial public offering of 6,900,000 shares of common stock at a price to the public of $16.00 per share, which includes the full exercise of the underwriters’ option to purchase 900,000 additional shares. The company had estimated the net proceeds from the offering to be approximately $100.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. The stock has began trading on The Nasdaq Global Select Market under the ticker symbol “LASR” on April 26, 2018.
Income from operations of $4.2 million, or 9.9% of revenues, compared to $0.6 million, or 2.0% of revenues, for the first quarter of 2017
For the second quarter of 2018, LASR expects revenues to be in the range of $48.0 million to $52.0 million, gross margin to be in the range of 33.0% to 36.0%, and income from operations in the range of $5.0 million to $7.0 million.