Onto Innovation Reports 2020 Third Quarter Results
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Onto Innovation Inc. (ONTO) Tops Q3 EPS by 6c, Revenues Miss, Offers 4Q EPS/Revenues Guidance
November 2, 2020 4:36 PM ESTOnto Innovation Inc. (NYSE: ONTO) reported Q3 EPS of $0.40, $0.06 better than the analyst estimate of $0.34. Revenue for the quarter came in at $126.5 million versus the consensus estimate of $128.08 million.
Revenue of $126.5 million was impacted by the timing in metrology spending predominantly from two customers.Specialty device and advanced packaging revenue surged 44% in the quarter driven by strong demand for process control for the 5G ecosystem and advanced packaging for high-power computing (HPC) and RF modules.Gross margin improved to 54%, above previous guidance.Inspection revenue grew... More