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MKS Instruments beats Street 3Q forecasts

ANDOVER, Mass. (AP) _ MKS Instruments Inc. (MKSI) on Tuesday reported third-quarter earnings of $76 million.

The Andover, Massachusetts-based company said it had profit of $1.38 per share. Earnings, adjusted for one-time gains and costs, were $1.56 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The maker of analysis and processing equipment for semiconductor companies posted revenue of $486.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $476.7 million.

For the current quarter ending in December, MKS Instruments expects its per-share earnings to range from $1.52 to $1.76.

The company said it expects revenue in the range of $480 million to $520 million for the fiscal fourth quarter.

MKS Instruments shares have increased 74 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $103.55, more than doubling in the last 12 months.

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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