Rubicon Technology (RBCN) Beats, Swings To Profit, Expects Record Rev Next Quarter

Rubicon Tech (RBCN) reported strong results after the bell today, beating analyst estimates and swinging back to a quarterly profit for the first time in more than a year.  The company reported an EPS of .07/share (.03 better than estimates) on revenues of $11.5 million (800K better than estimates).  That’s a big improvement over the year ago EPS loss of .19/share and a big jump in revenues over the year ago quarter when the company posted just $2.3 million.

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Strong LED demand allowed the company to raise prices 20% during the quarter.  Combined with cost cutting, the company was able to improve margins considerably.

The company sees strong demand continuing next quarter and estimates that EPS will double sequentially to .14/share on record revenues of $14 million.

Obviously, a great quarter out of Rubicon and that’s what traders had been expecting with the LED market on fire.  The question now becomes how much of that has already been priced in to the stock which as skyrocketed more than 6 fold in the last year and has nearly doubled in just the past few months.  Shares are under pressure after hours.

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