Photon Control Inc. reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenue for the first quarter of 2018 increased 17% from $11.9 million in 2017 to a record $13.9 million. The increase in revenue was primarily due to strong overall market conditions in the semiconductor industry, as well as increased share of customers' spend on both new and existing products. EBITDA for the quarter was $4.7 million or 34% of revenue compared to $4.9 million or 41% of revenues in first quarter of 2017. Record net income of $2.9 million and basic earnings per share of $0.03 for the quarter.

Looking ahead to second quarter of 2018 the company expects revenue to be in the range of $14 million to $16 million.

For the full year the company remains confident that the company will outperform the consensus estimates of low double digit revenue growth for the semiconductor equipment market. The company also expects to maintain EBITDA and net income margins for the year at levels similar to or above those reported in the prior year.