Electro Scientific Suspends Quarterly Dividend - Quick Facts

(RTTNews) - Electro Scientific Industries, Inc. (ESIO) announced that its board has suspended its quarterly dividend.

"We are in the middle of a major turnaround at ESI to return to long-term growth, profitability, and cash generation….. While our balance sheet is solid our Board believes we should concentrate our financial strength on growing the company and maintaining adequate financial flexibility," said Edward Grady, president and CEO of ESI.

The company said it is not changing its guidance for the fourth quarter of fiscal 2015, and its financial goals for next fiscal year, beginning in April, remain unchanged.