ANDOVER, Mass. (AP) — ANDOVER, Mass. (AP) — MKS Instruments Inc. (MKSI) on Wednesday reported first-quarter net income of $52 million.
The Andover, Massachusetts-based company said it had profit of 77 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.71 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The maker of analysis and processing equipment for semiconductor companies posted revenue of $936 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $933.5 million.
For the current quarter ending in June, MKS Instruments expects its per-share earnings to range from $1.28 to $1.84.
The company said it expects revenue in the range of $885 million to $965 million for the fiscal second quarter.
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