ANDOVER, Mass. (AP) — ANDOVER, Mass. (AP) — MKS Inc. (MKSI) on Wednesday reported first-quarter profit of $84 million.
On a per-share basis, the Andover, Massachusetts-based company said it had net income of $1.18. Earnings, adjusted for one-time gains and costs, came to $2.30 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2 per share.
The maker of analysis and processing equipment for semiconductor companies posted revenue of $1.08 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.05 billion.
For the current quarter ending in June, MKS expects its per-share earnings to range from $2.60 to $3.20.
The company said it expects revenue in the range of $1.16 billion to $1.24 billion for the fiscal second quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKSI at https://www.zacks.com/ap/MKSI
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