UPDATE: Onto Innovation Inc. (ONTO) Tops Q1 EPS by 6c, Offers Outlook

Onto Innovation Inc. (NYSE: ONTO) reported Q1 EPS of $0.39, $0.06 better than the analyst estimate of $0.33. Revenue for the quarter came in at $139.9 million versus the consensus estimate of $135.36 million.

Outlook:

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. This guidance assumes that our factories and our suppliers maintain their ability to meet commitments. 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. Included in the GAAP net income guidance are merger expenses related to the estimated impact of adjustments to the fair value of inventory stepped up in the merger that are anticipated to be sold in the quarter and additional restructuring charges related to merger integration activities.

For earnings history and earnings-related data on Onto Innovation Inc. (ONTO) click here.

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