Revenue Update on Rubicon Technology(NASDAQ:RBCN)

Rubicon Technology(NASDAQ:RBCN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $3.54M. Analysts estimated a revenue of $4.42M. Earnings per share were $-0.27. Analysts had estimated an EPS of $-0.28.

Rubicon Technology (RBCN) shares turned negative on Wednesdays trading session with the shares closing down -0.0043 points or -0.67% at a volume of 28,117. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.645. The peak price level was also seen at $0.645 while the days lowest was $0.62. Finally the shares closed at $0.6387. The 52-week high of the shares is $1.78 while the 52-week low is $0.51. According to the latest information available, the market cap of the company is $17 M.

Several Insider Transactions has been reported to the SEC. On Jan 4, 2016, Michael E Mikolajczyk (director) purchased 80,000 shares at $1.20 per share price.

Rubicon Technology Inc. (Rubicon) is a vertically integrated electronic materials provider specializing in monocrystalline sapphire for applications in light-emitting diodes (LEDs) optical systems and specialty electronic devices. The Company’s product lines include sapphire cores which are of two to six inches in diameter; four and six-inch sapphire wafers that are used as substrates for the manufacture of LED chips and to a lesser extent for other semiconductor applications such as Silicon-on-Sapphire Radio Frequency Integrated Circuits; four six and eight-inch patterned sapphire wafers (PSS) which are polished wafers that undergo additional processes of photolithography and dry plasma etching to produce a patterned surface and optical sapphire components in various shapes and sizes including round and rectangular windows and blanks domes tubes and rods. It fabricates its products from the boules and sells them as core polished wafer and PSS wafers.

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