Onto Innovation: Q1 Earnings Snapshot

WILMINGTON, Mass. (AP) — WILMINGTON, Mass. (AP) — Onto Innovation Inc. (ONTO) on Thursday reported first-quarter earnings of $46.9 million.

The Wilmington, Massachusetts-based company said it had net income of 94 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.18 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The maker of semiconductor manufacturing equipment posted revenue of $228.8 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $222.5 million.

For the current quarter ending in June, Onto Innovation expects its per-share earnings to range from $1.14 to $1.26.

The company said it expects revenue in the range of $230 million to $240 million for the fiscal second quarter.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ONTO at https://www.zacks.com/ap/ONTO

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