(CSCD)

Cascade Microtech's (CSCD) CEO Michael Burger on Q2 2014 Results - Earnings Call Transcript
Aug. 6, 2014 8:57 PM ET | About: Cascade Microtech, Inc. (CSCD)

Estimates for Q3 and Q4

Sekeen Alpha: Cascade Microtech's (CSCD) CEO Michael Burger on Q2 2014 Results - Earnings Call Transcript by SA Transcripts
This article was published on Wed, Aug. 6, 8:57 PM ET
Michael Burger - President and CEO
Not at all. No. In fact we were very purposeful in basically saying even though we’re guiding down in Q3 by $1 million on each end of the range from a revenue perspective. We believe the second half will outperform the first half. And that is typical for us. It been that way through certainly last several years, and I think before that you really can't go back because the freaky stuff that was going on with the economy. And so, certainly in the last two years, second half is stronger seasonally. But we think that, that should be accentuated by the fact that a lot of the new products that have been introduced are gaining traction. And our experience is that, Q4 typically guys are trying to clean up their capital budgets and placing whatever capital they have left and that is held true for several years. So, yes we expect second half to be stronger than the first half, actually across the board in all segments

http://seekingalpha.com/article/2391945-cascade-microtechs-cscd-ceo-michael-burger-on-q2-2014-results-earnings-call-transcript?page=1

CSCD: Q2 EPS 11c vs 15c Meets 11c Est

Wednesday, August 06, 2014 21:29ET


QUARTER RESULTS
Cascade Microtech, Incorporated (CSCD) reported Q2 results ended June 2014. Q2 Revenues were $33.50M; +10.52% vs yr-ago; MATCHING revenue consensus. Q2 EPS was 11c; -26.67% vs yr-ago; MATCHING earnings consensus.
Q2 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $33.50M $30.31M +10.52% $33.50M 0.00%
---------- ------------ ------------ ---------- ------------ ----------
EPS: 11c 15c -26.67% 11c 0.00%
---------- ------------ ------------ ---------- ------------ ----------


ORIGINAL EARNINGS RELEASE
Consensus estimate data provided by Reuters.

EPS: $0.13 VS $0.11, REVENUES $33.5 MILL. ,INLINE
BEZINGA:4:12:00PM

Revenue of $33.5 Million; Record Gross Margin of 50.8%; Income From Operations of $2.9 Million; GAAP EPS of $0.11; Non-GAAP EPS of $0.13

BEAVERTON, OR--(Marketwired - Aug 6, 2014) - Cascade Microtech, Inc. (NASDAQ: CSCD) today reported financial results for the second quarter ended June 30, 2014.

Financial summary

Results for the quarter ended June 30, 2014 were as follows:
•Total revenue of $33.5 million, compared to $33.8 million for Q1 2014 and $30.3 million for Q2 2013. •Systems revenue of $21.8 million, an increase of $0.3 million, or 1.2%, over Q1 2014, and an increase of $2.0 million, or 10.0%, over Q2 2013.
•Probes revenue of $11.6 million, a decrease of $0.6 million, or -5.1%, from record high Q1 2014, and an increase of $1.2 million, or 11.2%, over Q2 2013.

•Gross margin of 50.8%, up from 48.1% in Q1 2014 and 47.1% in Q2 2013. •Q2 2014 represents record gross margin performance overall and for each segment.
•Systems gross margin of 46.5%, up from 42.7% in Q1 2014 and 44.1% in Q2 2013.
•Probes gross margin of 58.9%, up from 57.8% in Q1 2014 and 52.7% in Q2 2013.

•Income from operations of $2.9 million, an increase of $0.3 million, or 12.5%, over Q1 2014, and an increase of $0.4 million, or 16.3%, over Q2 2013.
•GAAP net income of $1.8 million, or $0.11 per diluted share, compared to $1.6 million, or $0.10 per diluted share, for Q1 2014, and $2.2 million, or $0.15 per diluted share, for Q2 2013. •Q2 2014 includes tax expense of $1.1 million, or $0.06 per diluted share, compared to $0.9 million, or $0.06 per diluted share, for Q1 2014, and $0.2 million, or $0.02 per diluted share, for Q2 2013.

•Non-GAAP net income of $0.13 per diluted share, compared to $0.13 per diluted share for Q1 2014, and $0.17 per diluted share for Q2 2013.
•Depreciation, amortization and stock-based compensation expenses totaled $2.4 million, compared to $2.1 million for Q1 2014 and $1.7 million for Q2 2013.
•Adjusted EBITDAS of $5.1 million, compared to $4.7 million for Q1 2014 and $4.3 million for Q2 2013.
•Total cash, restricted cash and investments of $30.3 million, an increase of $1.8 million over March 31, 2014. •Q2 2014 includes stock repurchases of $0.2 million.

•Book-to-bill ratio of 0.89 to 1.

"We are very pleased with the continued improvement in both business segments as well as our financial results. In addition to setting record gross margins and validating the key first step to our Success Model, we strengthened our business through the introduction of our strategic partnership initiatives that we call MeasureOne. These initiatives expand our markets while leveraging our sales and service channel. Our leadership position with our customer base continues to be our major focus. This focus will manifest itself in increased investment in research and development to meet our customers request and road-maps. Based upon the engagement with our customers and a strong Q2 behind us, we are optimistic about the rest of 2014," said Michael Burger, President and CEO.

Financial outlook

For the third quarter of 2014 we are projecting revenue in the range of $31.0 million to $34.0 million with diluted GAAP earnings per share in the range of $0.04 to $0.08, and non-GAAP earnings per share in the range of $0.07 to $0.11. Our guidance assumes a tax rate of 37%, consistent foreign currency rates and no significant one-time charges.

We will host a conference call beginning at 2:00 p.m. PDT (5:00 p.m. EDT) on Wednesday, August 6, 2014, to discuss our results for the quarter ended June 30, 2014.

A simultaneous audio cast of the conference call may be accessed online from the investor relations page of www.cascademicrotech.com/investors. If you are interested in participating in the call, the live dial-in number is 866-953-6860 , or international 617-399-3484 , participant Passcode: 85034028. A replay will be available after 9:00 p.m. EDT at the same internet address. (For a telephone replay available after 9:00 p.m. EDT, dial: 888-286-8010 , international: 617-801-6888 , Passcode: 99609077).

Forward-Looking Statements

The statements in this release regarding performance to the Success Model, customer demand, investment in research and development, our optimism about the rest of 2014, and statements under "Financial Outlook" regarding projected revenue, GAAP earnings per share, and non-GAAP earnings per share, and other statements identified by terminology such as "will," "should," "expects," "estimates," "predicts," and "continue" or other derivations of these or other comparable terms are "forward-looking" statements within the meaning of the Securities Litigation Reform act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business based in part on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including: changes in demand for the Company's products; changes in product mix; potential delays and other factors affecting the timing of new product introductions; the timing of shipments and customer orders; constraints on supplies of components; excess or shortage of production capacity; potential failure of expected market opportunities to materialize; changes in foreign exchange rates; our ability or delay in integrating acquired businesses; and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's Annual Report on Form 10-K for the year ended December 31, 2013. In addition, such statements could be affected by general industry and market conditions and growth rates and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

Non-GAAP Financial Measures

In addition to disclosing financial results calculated in accordance with U.S. generally accepted accounting principles (GAAP), the Company's earnings release contains Non-GAAP financial measures which are defined below and reconciled to GAAP financial measures in a table later in this release:
•Non-GAAP net income is defined as GAAP net income before certain items (adjustments) such as restructuring, facility move and project costs, acquisition-related expenses, the amortization of intangibles and discrete tax items that we believe are either not representative of our ongoing operating performance or effect the comparability of results over time. Non-GAAP net income should not be construed as a substitute for net income as defined by GAAP. However, we regard non-GAAP net income as a complement to GAAP net income in assessing our financial performance over time and in the future.

•Adjusted EBITDAS is defined as income from continuing operations before depreciation and amortization and stock-based compensation and certain other items (adjustments) such as restructuring, facility move and project costs, and acquisition-related expenses that we believe are not representative of our ongoing operating performance. Adjusted EBITDAS should not be construed as a substitute for net income from continuing operations or net cash provided by (used in) operating activities (all as determined in accordance with GAAP) for the purpose of analyzing our operating performance, financial position and cash flows, as adjusted EBITDAS is not defined by GAAP. However, we regard adjusted EBITDAS as a complement to net income from continuing operations and other GAAP financial performance measures, by including an indirect measure of operating cash flow.

About Cascade Microtech, Inc.

Cascade Microtech, Inc. (NASDAQ: CSCD) is a worldwide leader in precision contact, electrical measurement and test of integrated circuits (ICs), optical devices and other small structures. For technology businesses and scientific institutions that need to evaluate small structures, Cascade Microtech delivers access to electrical data from wafers, ICs, IC packages, circuit boards and modules, MEMS, 3D TSV, LED devices and more. Cascade Microtech's leading-edge stations, probes, probe cards, advanced thermal subsystems and integrated systems deliver precision accuracy and superior performance both in the lab and during production manufacturing of high-speed and high-density semiconductor chips. For more information, visit www.cascademicrotech.com.

http://finance.yahoo.com/news/cascade-microtech-reports-second-quarter-200652696.html

ANALYST RATINGS NETWORK,Consensus Price Target: $14.04

Ratings Breakdown: 1 Hold Rating(s), 4 Buy Rating(s)
Consensus Rating: Buy (Score: 2.80)
Consensus Price Target: $14.04 (18.68% upside
7/1/2014 Canaccord Genuity Initiated Coverage Buy $16.00
6/3/2014 Zacks Downgrade Neutral $12.20
6/3/2014 Craig Hallum Initiated Coverage Buy $15.00
5/30/2014 Lake Street Capital Initiated Coverage Buy $13.00
5/14/2014 B. Riley Initiated Coverage Buy $14.00 View
4/30/2014 Canaccord Genuity Reiterated Rating Buy $11.00 - $12.50

http://www.analystratings.net/stocks/NASDAQ/CSCD/

Investors, loock CSCD,$11.90, EARNINGS, TODAY, After market.Mean Recommendation*:1.6

Financial Time:Consensus recommendation
As of Aug 01, 2014, the consensus forecast amongst 5 polled investment analysts covering Cascade Microtech, Inc. advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts deteriorated on Jun 03, 2014. The previous consensus forecast advised investors to purchase equity in Cascade Microtech, Inc..
2 BUY
3 OUTPERFORM
Earnigs estimate @.114 TDA
Market Cap (intraday)5: 193.15M
Enterprise Value (Aug 6, 2014)3: 164.34M
Trailing P/E (ttm, intraday): 12.93
Most Recent Quarter (mrq): Mar 31, 2014
Revenue (ttm): 126.35M
Gross Profit (ttm): 54.72M
EBITDA (ttm)6: 15.62M
Net Income Avl to Common (ttm): 14.26M
Diluted EPS (ttm): 0.92
Total Cash (mrq): 27.68M
Total Debt (mrq): 0.00
Shares Outstanding5: 16.23M
Float: 11.51M

Great opportunity to buy before the market close Less

~ Monday! $CSCD ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!

~ $CSCD ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=CSCD&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=CSCD&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=CSCD
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=CSCD#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=CSCD+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=CSCD
Finviz: http://finviz.com/quote.ashx?t=CSCD
~ BusyStock: http://busystock.com/i.php?s=CSCD&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=CSCD >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

Cascade Microtech, Inc. designs, develops, manufactures and markets wafer probing and test socket solutions for the electrical measurement and testing of chips. The Company designs, manufactures and assembles its products in Oregon, Minnesota and Dresden, Germany with global sales, service and support centers in North America, Germany, Japan, Taiwan, China and Singapore. Its engineering probe stations provide precise and accurate measurement of semiconductor electrical characteristics during chip design or when optimizing the chip fabrication process. The analytical probes are sold to serve as components of its engineering probe stations, or less often, to serve as components of test equipment manufactured by third parties. Its production probe cards are designed and sold for production test applications. On January 28, 2010, the Company completed the acquisition of Suss MicroTec Test Systems GmbH. In September 2011, the Company sold its test socket manufacturing business.

http://www.google.com/finance?q=CSCD