FEI maintains steady growth, forecasts more of the same [The Oregonian, Portland, Ore.]
(Oregonian (Portland, OR) Via Acquire Media NewsEdge) Feb. 06--FEI Co. posted another quarter of record sales and profits this afternoon, and the Hillsboro company said it expects to continue doing so in the year ahead.
FEI makes powerful microscopes for electronics manufacturers and scientific researchers. Its growth cooled somewhat last year -- with sales growing by about 8 percent, down from 30 percent the prior year, but FEI indicated it could maintain its current growth rate through at least the rest of the year.
Fourth-quarter sales totaled $230.9 million, up 8.4 percent from the same three months last year. FEI had told investors to expect sales between $223 million and $233 million. Full-year sales totaled $891.7 million.
Profits totaled $29.8 million in the last three months of the year, 72 cents a share -- in line with the company's forecasts. That improves on net income of $29.1 million, 72 cents a share, in the same three months of last year.
FEI said it expects 2013 sales will climb another 5 to 9 percent. The high end of that range would leave FEI just shy of $1 billion in annual revenue.
Shares climbed 45 cents today, closing at $61.41 before FEI reported fourth-quarter results. In the past year, the stock has traded between $41.52 and $64.74.
-- Mike Rogoway; twitter: @rogoway; phone: 503-294-7699
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