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Electro Scientific Industries Inc. Message Board

  • risingmojo77 risingmojo77 Jan 12, 2012 5:07 PM Flag

    GSIG exiting ESIO's semi business

    ESIO is losing a direct competitor since GSI Group (GSIG) announced it is looking to get out of the semiconductor systems business. Below is from GSI's Q3 press release:

    After conducting a strategic review of the Company's laser systems business lines, which are sold under the Control Laser and Baublys brand names, the Company intends to exit these businesses. The Company is currently exploring its options for exiting these businesses and will provide a further update at the time of the Company's year-end earnings release. In addition, the Company is placing its Semiconductor Systems business under strategic review. In aggregate, these three businesses are expected to contribute approximately $60 million to $65 million of revenue in 2011, with operating profitability well below the Company's other business lines.

    "While these business lines represent strong franchises within their respective areas of focus, we believe they need to achieve significantly greater scale to be successful in the long term," said Mr. Roush . "However, we believe our resources are better allocated to growing our core component and sub-system franchises. Thus, we feel the systems businesses will be better served by ownership outside GSI."

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