Rubicon (RBCN) Beats, Guides Above Estimates, Shares Soar

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09:59:11 pm on February 16, 2011

Rubicon (RBCN) reported huge quarter over quarter growth after the bell tonight, smashing estimates in the process.  Obviously traders love the report, sending shares up 20% in after hours trading.  The EPS number came in at .64/share on revenues of $29.5 million which compares with the analyst estimate of just .50/share on revenues of $26.8 million.  The company attributed strong results to two new manufacturing facilities, increased pricing and strong demand in the LED market.

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CEO Mr Parvez commented on the increased interest in 6 inch polished wafers: "Revenue from our 6 inch polished wafers increased over 70 percent sequentially to $8.1 million in the fourth quarter. Demand for 6 inch wafers is increasing and we expect significant growth in this product in the second half of this year as more LED chip manufacturers have announced their intention to move into production on 6 inch wafers later this year."

Looking ahead to next quarter, the company expects another sequential bump in revenue of around 20% to $34 million – $36 million.  EPS is expected to come in around $0.62 – $0.65 which is well ahead of the analyst estimate of $0.52.  The company expects to continue to add capacity while pricing remains strong. 

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